“COVID-19: lockdowns, recession and…a new stock market bubble?”, Rossella Leali (Elcano, Spain)

2020 has been a year marked by the outbreak of COVID-19, lockdowns and a deep recession in the world’s economy. Yet, after a first pandemic-driven low in March 2020 the Nasdaq had risen 100% towards the end of January 2021 and, along with the S&P 500 and the Dow Jones Industrial Average, closed at record highs when the new American President Joe Biden took office on 20 January. In fact, the stock market reached new record levels during 2020 thanks to cryptocurrencies, especially Bitcoins, which soared by almost 300% last year, electric vehicles such as Tesla, which skyrocketed by nearly 750%, and tech and growth stocks.

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