As pandemic unfolds, fear and finance collide
Monday, March 23, 2020 - 09:10
in Mathematics & Economics
Despite global efforts to stall the spread of the novel coronavirus, growing fears surrounding the pandemic have caused markets to respond with record-breaking volatility. On Monday, the nation's volatility index, often referred to as a "fear index," closed at the highest value in its 30-year history as the S&P 500 fell more than 7% within seconds of opening, triggering an automatic 15-minute stop in trading. Once trading resumed, the market posted its largest one-day point drop in history.