Markets are much more fluid than economic policy
Research shows that travel bans are more harmful than helpful to countries in the long run. One 2020 study for the Journal of Emergency Managementthat negligible evidence to support their use in minimizing the spread of emerging infectious diseases, while the WHO urged governments not to adopt such restrictions yet, advice that was ignored by the US, the UK, and several others.
Friday's selloff makes sense from a free-markets perspective. Investors constantly try to front-run trends so they can profit the most from new developments at companies or across the whole economy. For example, those who bet on global lockdowns as the pandemic was just emerging in China likely enjoyed the largest gains from stay-at-home stocks and safe-haven assets.
市场对新变种的黑色星期五恐慌表明，反动的华尔街是如何统治美国生活和政治的