Not in My BackYard
Didier Darcet
1 March 2020

COVID-19- The Power of NIMBY

Last week, the COVID-19 epidemic turned into a financial pandemic. The MSCI World equity market suffered its third worst loss ever in a week, right behind the 1987 and 2008 crashes. However, the number of new infections in the world had turned out to be some 40% fewer than during the previous week. So, why did the market crash?