Covid-19 Outbreak and Stock Market Performance: Evidence From Major Countries

Abstract

The objective of this study is to determine the impact of COVID-19 on the performance of major Stock Market indices. This study uses the data of COVID-19 related confirmed cases, fatalities, and the closing prices of the selected indexes during the period from January 1 to July 31 in 2020. The findings of the study suggest that only COVID-19 confirmed cases are influencing the performance of the S&P 500 index, while the COVID 19 death cases are influencing the performance of both Shanghai composite index and KSE all indexes. However, no relationship exists between the NSE 500 index and COVID 19 confirmed and death cases.

Keywords: COVID-19 and Stock Market, Major Stock Market and Pandemic.

DOI: 10.7176/EJBM/12-24-09

Publication date:August 31^st 2020