Stock markets around the world have been reacting to the Covid-19 pandemic since early February 2020, providing sufficient data for researchers to address numerous interesting questions. Stock markets initially assessed the economic impact of the pandemic to be of similar to that of the GFC, but this subsequently turned around to reflect expectations of a relatively mild and short-lived impact. In the US, in a period of not much longer than a month, the stock market initially fell by 34%, but this loss was recovered wi...