Covid-19 is a classic black swan event. It was unpredictable. It was completely underestimated at the start. And it will be easier to analyse in hindsight. But when we reach the point of hindsight is extremely difficult to predict.

We have witnessed significant trauma in financial markets as they struggle to compute the impact of Covid-19 on the global economy. While the scale and speed of market slumps have been severe, there are parallels in history. The most important thing to remember is that markets recovered. ..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now