Black Swan Events and How They Affect Markets with Emma Rasiel
March 4, 2020 | From WNCN-TV, Raleigh
Markets can be volatile but sometimes, the unanticipated happens in the form of a black swan—It's happening right now.
Last week, the Dow Jones Industrial Average dropped 1,191 points in a day. The losses continued, making this a recent black swan event.
“A 'black swan' is something no one expects to see and changes everybody’s viewpoint,” said Emma Rasiel, director of the Duke University Financial Economics Center. “Coronavirus. We don’t know what it is and we don’t know what it means for the economy.”