Google search volumes and the financial markets during the COVID-19 outbreak

Michele Costola, Matteo Iacopini and Carlo Santagiustina

Finance Research Letters, 2021, vol. 42, issue C

Abstract: During the outbreak of the COVID-19, concerns related to the severity of the pandemic have played a prominent role in investment decisions. In this paper, we analyze the relationship between public attention and the financial markets using search engine data from Google Trends. Our findings show that search query volumes in Italy, Germany, France, Great Britain, Spain, and the United States are connected with stock markets. The Italian Google Trends index is found to be the main driver of all the considered markets. Furthermore, the country-specific market impacts of COVID-19-related concerns closely follow the Italian lockdown process.

Keywords: COVID-19; Financial Markets; Google Trends (search for similar items in EconPapers)
JEL-codes: C32 G15 G41 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:42:y:2021:i:c:s1544612320316986

DOI: 10.1016/j.frl.2020.101884

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