The Daily News Sentiment Index can be used to assess how sentiment responded to the COVID-19 crisis compared to the 2008 financial crisis. News sentiment declined at a similar pace and scale during both crises but recovered more quickly in the financial crisis.
The COVID-19 public health crisis has affected asset prices differently across sectors of the U.S. economy. Stocks in utilities, real estate, and energy sectors initially suffered the worst shocks, while infotech, health-care, and telecom sectors fared relatively better. Businesses with higher financial leverage saw larger valuation declines, affected in part by concerns about insolvency.
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