considers both the fragility and stress of the market. Fragility is measured by the Fragility Index developed by Berger and … Pukthuanthong (2012) and market stress is based on several economic variables. Results show that incorporating both market stress …

), we investigate the effect of WSJ's coverage and stress tone on stock markets. Also, we attempt to measure a media hype … that compares the number of stress words to the number of cases. We document three main findings. First, news coverage … uncertainty. Second, increased use of the stress tone leads to negative returns and increased expected risk to investors. Third …