How to understand panic? mp.weixin.qq.com/s/TswuZ7IM6frm…
Under normal circumstances, panic among investor will cause #Sheep-FlockEffect, resulting in the #marketslump in a short period of time, such as the 2008 #financialcrisis and the 2015 stock crash in China.
Usually the uncertainty about future is key in exacerbating the economic downturn or the financial crisis.
The goal of policy response is very clear, to step up to reduce anxiety and the uncertainty about expectations.
However, the impact of epidemics such as infectious diseases is very different from that of economic or financial crisis in more general sense. Managing control requires certain degree of panic.
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