How News Affects the Stock Market
In January this year, the U.S.-based Hindenburg Research released a report accusing the Indian conglomerate Adani Group of stock manipulation and accounting fraud. The report received widespread media coverage, causing Adani’s stock prices to plummet. The founder and chairman of the Adani Group, Gautam Adani, lost US$34 million of his net worth in just a week after the report was released.