The association of the number of confirmed COVID-19 cases and fatalities with stock market returns: A case of the USA and China
Year: 2022
Type: article
Abstract: The daily stock indices/returns of the Shanghai Stock Exchange (SSE) and the New York Stock Exchange (NYSE) were examined from January 2, 2020, to April 2, 2020, during the COVID-19 pandemic period. The sample was then split into three event windows. The returns were negative during the post-COVID-19 window for both markets. Interestingly, a positive link was found between NYSE returns and COVID-19 cases and deaths during the peak COVID-19 death window. These findings indicate the buying frenzy of investors in the NYSE in the wake of the increased pandemic level as compared to the SSE.
Source: Corporate Ownership and Control
Institution: University of Lahore
Language: English
Topic: COVID-19 Pandemic Impacts
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4285280306