Five months before the <a href="https://en.wikipedia.org/wiki/2020_stock_market_crash" id="mwARQ" rel="mw:WikiLink" title="2020 stock market crash">COVID-19 stock market crash</a>, an overnight spike in lending rates in the United States prompts the <a href="https://en.wikipedia.org/wiki/Federal_Reserve" id="mwARU" rel="mw:WikiLink" title="Federal Reserve">Federal Reserve</a> to conduct operations in the <a class="mw-redirect" href="https://en.wikipedia.org/wiki/Repo_market" id="mwARY" rel="mw:WikiLink" title="Repo market">repo market</a>.