Impact of COVID-19 on the US Stock Market

Student: Evdokimov Vladimir

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2021

This paper studies the effect of COVID-19 on the US stock market in panel data analysis in period starting from December 21, 2020, till May 2021. The main findings suggest that US stock market returns respond negatively to an increase in the growth rate of daily total deaths due to COVID-19, while the response of the US stock market returns to the growth rate of daily confirmed total cases of COVID-19 was not that statistically significant. Also, this paper finds that stock returns across all companies in S&P500 index responds positively to an increase in daily vaccinations.

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