2020
DOI: 10.1016/j.ribaf.2020.101249
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Stock markets’ reaction to COVID-19: Cases or fatalities?

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Cited by 1,008 publications
(1,021 citation statements)
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“…Regarding prior studies on investigating the economic impacts of COVID-19 outbreak, first, for the cross-country studies, Ashraf [ 24 ] finds the growth in the number of country-level confirmed cases of COVID-19 has a negative effect on stock markets based on the 64 countries over the period 22 January to 17 April 2020. In addition, Engelhardt et al [ 7 ] confirm that news attention of COVID-19 associate with the stock markets’ decline.…”
Section: Background Literature and Hypothesis Developmentmentioning
confidence: 99%
“…Regarding prior studies on investigating the economic impacts of COVID-19 outbreak, first, for the cross-country studies, Ashraf [ 24 ] finds the growth in the number of country-level confirmed cases of COVID-19 has a negative effect on stock markets based on the 64 countries over the period 22 January to 17 April 2020. In addition, Engelhardt et al [ 7 ] confirm that news attention of COVID-19 associate with the stock markets’ decline.…”
Section: Background Literature and Hypothesis Developmentmentioning
confidence: 99%
“…COVID-19 pandemic has caused the stock market's highest volatility out of all the pandemics so far (Baker et al, 2020). There is huge volatility in the US (Alfaro et al, 2020), China (Al-Awadhi et al, 2020), global financial market (Zhang, Hu, & Ji, 2020), major stock indexes from 64 countries (Ashraf, 2020).…”
Section: Literature Reviewmentioning
confidence: 99%
“…The S&P 500 index noted a 30% decline in 16 trading days (Ali, Alam and Rizvi, 2020). B. N. Ashraf (2020) analysed the impact of the number of con rmed COVID-19 cases and deaths on main stock market indices in 64 countries by means of the panel data analysis. His main ndings were that reaction of the stock markets on growth of con rmed COVID-19 cases was strong and negative, while the in uence of the growth of con rmed deaths on the stock markers was also negative, but the strength of this relationship was much lower than in the former case.…”
Section: Literature Reviewmentioning
confidence: 99%