that the coronavirus and upcoming election have caused investors to fear a stock market crash more than they have in years.
A rise in COVID-19 cases or a chaotic election could trigger a"change in mass psychology" and bring on a market crash, he concluded.Economist Robert Shiller said the coronavirus crisis and upcoming election have driven investor fears of a major stock market crash to the highest levels in many years. For example, his Crash Confidence Index, which tracks how many investors say the probability of a catastrophic stock market crash in the US in the next six months is less than 10 percent, was at a record low in August. Just 13% of investors surveyed had that level of confidence in the market. In September, the reading was still extremely low.
But Shiller said that the low confidence readings and high stock prices won't cause a market crash on their own."Another dynamic would need to be in effect," he added.
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