“…To date a number of substantial effects have been identified with regards to the contagion effects of COVID-19, particularly those evident in gold and cryptocurrency markets ( Corbet, Larkin, & Lucey, 2020 ); and side-effects relating to name association ( Corbet, Hou, Hu, Lucey, & Oxley, 2020 ). Otherwise, related research is quite sparse with the exception of that relating to control and continuity ( Kamradt-Scott, 2013 ; Kamradt-Scott, 2015 ; Sadique et al, 2007 ; Weiss, 2012 ), the effects of pandemics, as measured through swine flu of 2008/2009 on tourism ( Page, Song, & Wu, 2012 ), and tracing the conceptual entanglement of financial and biological contagion ( Peckham, 2013 ). In the following research, we focus on three distinct periods of analysis to consider the pre-COVID-19 phase; the China-only-COVID-19 phase; and the international transmission phase of COVID-19, to identify evidence of both contagion effects and price discovery.…”