COVID-19 and the Stock Market Drop
Last Thursday, the New York Stock Exchange witnessed its biggest collapse since 1987. According to Forbes, the 20 richest people in the world lost almost $78 billion in a single day. The bearish trend triggered by the coronavirus has been observed all over the world. We are dealing with a classic “black swan” – an unpredictable, random event, the consequences of which scale exponentially, causing both negative, but also positive transformations, Vladimir Milovidov, head of the International Finance department at MGIMO University, said in an interview with vadaiclub.com.