The Unprecedented Stock Market Impact of Covid-19

  title={The Unprecedented Stock Market Impact of Covid-19},
  author={Scott R. Baker and Nicholas Bloom and Steven J. Davis and Kyle J Kost and Marco Sammon and Tasaneeya Viratyosin},
  journal={ERN: Stock Market Risk (Topic)},
No previous infectious disease outbreak, including the Spanish Flu, has impacted the stock market as forcefully as the COVID-19 pandemic. In fact, previous pandemics left only mild traces on the U.S. stock market. We use text-based methods to develop these points with respect to large daily stock market moves back to 1900 and with respect to overall stock market volatility back to 1985. We also evaluate potential explanations for the unprecedented stock market reaction to the COVID-19 pandemic… 
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