Analýza vlivu pandemie COVID-19 v letech 2019-2022 na akciové trhy v České republice

This bachelor thesis examines the short – and long-term impact of the Covid-19 pandemic on stock markets and economies over the 2019-2022 period. It puts into context macroeconomic data, the evolution of the newly infected, and the performance of the PX and S&P 500 indices, and analyzes the direct and indirect effects of the pandemic on stock markets using fundamental analysis. In the early 2020s, the shock of the Covid-19 pandemic caused a significant stock market decline of several tens of percent. The direct impact was mitigated at that point by the easing of fiscal and monetary policies. There was even a rapid rise in indices that continued until the first quarter of 2022. The paper further analyzes the increase in inflation due to the effects of the pandemic and expansionary policies. This forced central banks to raise interest rates and stock markets in the US and the Czech Republic subsequently declined for the rest of 2022. The differential effects of these factors across the financial and energy sectors are also analysed. The bachelor thesis thus provides insights into the dynamics of stock markets under the impact of the shocks described above and offers possible lessons for other similar situations.