Black Thursday[1] was a global stock market crash on March 12, 2020 as part of the greater 2020 stock market crash. Global stock markets suffered from the greatest single-day fall since the 1987 stock market crash.[2] Following Black Monday three days earlier, Black Thursday was attributed to the 2019–20 coronavirus pandemic and a lack of investor confidence in a 30-day travel ban against the Schengen Area imposed by the Trump Administration.[3] Additionally, the European Central Bank under the lead of Christine Lagarde decided to not cut interest rates despite market expectations,[4] leading to a drop in S&P 500 futures of more than 200 points in less than an hour.[5]