Impact Of Global Events On International Financial Markets
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Abstract
The study's overarching goal is to determine how severely the pandemic has affected the financial markets of both industrialized and developing nations. The findings revealed significant variations in COVID-19's economic impact across developed and developing countries. The developed world's financial markets were hit worse by the COVID-19 pandemic's effects on supply, demand, and economic stability. The three most consequential effects of the COVID-19 pandemic on financial markets, especially as they pertain to developing countries, are changes in spending patterns, changes in confidence and anticipation, and the bandwagon effect. The launch of the economic stimulus package and continued support for small and medium-sized enterprises are the greatest steps that may be implemented to mitigate the impact of the COVID-19 epidemic on financial markets in industrialized nations. In order to mitigate the economic damage caused by COVID-19, developing nations should prioritize aiding their poorest citizens and announcing the launch of a stimulus package. Implementing measures like the creation of new financing vehicles, repairing the bridge between the public and private sectors, and supporting economically disadvantaged people and businesses can help lessen the blow that COVID-19 will deal to the financial markets.