We show that unexpected changes in the trajectory of COVID-19 infections predict US stock returns, in real time. Parameter estimates indicate that an unanticipated doubling (halving) of projected infections forecasts next-day decreases (increases) in aggregate US market value of 4 to 11 percent,...

We show that unexpected changes in the trajectory of COVID-19 infections predict US stock returns, in real time. Parameter estimates indicate that an unanticipated doubling (halving) of projected infections forecasts next-day decreases (increases) in aggregate US market value of 4 to 11 percent,...

Purpose: This study measures the impact of the bourse lockdown decision during COVID-19 pandemic on the stock market of Bangladesh.Design/ Methodology/ Approach: The top 30 blue-chip companies listed in the DS30 Index of the Dhaka Stock Exchange are used as the sample for this study. Panel data...

This paper examined the effect of COVID-19 pandemic on global stock markets. Daily closing prices were obtained from Wall Street data base from 1st January to 31st March 2020. For the analysis 80 trading days were used from 20th January, 2020, when the news of COVID-19 pandemic broke out to 11th...

This study investigates the dynamic connectedness between stock indices and the effect of economic policy uncertainty (EPU) in eight countries where COVID-19 was most widespread (China, Italy, France, Germany, Spain, Russia, the US, and the UK) by implementing the time-varying VAR (TVP-VAR)...

In this paper, we study how China's stock market reacts to the sudden outbreak of COVID-19 in 2020, particularly to the announcement of the pandemic lockdown. In general, we observe reversals both at the industry level and at the firm level due to investors' overreactions to the pandemic...