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The Impact of the Global COVID-19 Pandemic on the Stock Market Indices of Selected Countries

Author

Listed:
  • Josef Klement

    (Faculty of Economics, University of Economics, Prague)

  • Adela Zubikova

    (Faculty of Economics, University of Economics, Prague)

  • Miroslav Sevcik

    (Faculty of Economics, University of Economics, Prague)

  • Tomas Lejsek

    (Faculty of Economics, University of Economics, Prague)

Abstract

The worldwide spread of coronavirus has shaken stock markets and significantly increased risk. The most-watched US stock index S&P 500 fell by 35% from 19th February to 23rd March. Indices of other countries registered a similar development. Although the spread of the virus has been brought under control in many countries currently, the worldwide number of infections is still growing. Unprecedented monetary and fiscal stimuli, on the other hand, have reversed sentiment in the markets. From 23rd March 2020, stock markets gradually had been growing until the S&P 500 index reached only 5% below historical highs on 8th June 2020. The paper deals with the development of volatility of selected stock indices, their mutual correlations, and the relationship with the number of infected in a given country.Acknowledgment: The publication of this article was supported by the University of Economics, Prague research grant IGA no. IGS F5/41/2020

Suggested Citation

  • Josef Klement & Adela Zubikova & Miroslav Sevcik & Tomas Lejsek, 2020. "The Impact of the Global COVID-19 Pandemic on the Stock Market Indices of Selected Countries," Proceedings of Economics and Finance Conferences 10913113, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iefpro:10913113
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    File URL: https://iises.net/proceedings/13th-economics-finance-conference-prague/table-of-content/detail?cid=109&iid=015&rid=13113
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    References listed on IDEAS

    as
    1. Miroslav Sevcik & Adela Zubikova & Josef Klement & Jan Kozak & Martin Zeman & Pavel Smolak & Tomas Lejsek & Lubor Simunek & Kristyna Vesela, 2020. "Economic Policy Recommendations During the Coronavirus Pandemic in the Czech Republic," International Journal of Business and Management, International Institute of Social and Economic Sciences, vol. 8(1), pages 155-175, May.
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    More about this item

    Keywords

    coronavirus; COVID-19; volatility; stock indices; financial markets;
    All these keywords.

    JEL classification:

    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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