Impact of Daily Stock Market Volatility on Heart Attack in the United States
Authors
Scarlett Ren
Share
Annotation
Background: Based on previous research revealing an association between stock volatility and cardiovascular mortality in the Asian population, we hypothesize that a similar correlation exists between stock market volatility and the increased risk of heart attack in the United States (US).
Objective: We aimed to investigate the association between daily stock volatility and population-level heart attack in the US (2005-2022).
Methods: Time-series analysis and generalized linear regression were used to examine the association between the daily volatility of Dow Jones Industrial Average (DJI) and the heart attack prevalence in the community population and the prevalence of coronary artery disease (CAD, including ischemic heart disease and myocardial infarction) in the hospital emergency department (ED) patients. The community-based data (2005-2022) were from the Behavioral Risk Factor Surveillance System (BRFSS) and the ED-based data (2013-2021) were from the National Hospital Ambulatory Medical Care Survey (NHAMCS).
Results: There were an average of 34 days (range: 0 - 126 days) having a large DJI volatility amplitude (>=2%) annually from 2005 to 2022. Given an increase of 50 days with a large DJI volatility, the prevalence of CAD in ED patients increased by 11.6% in the current year, and the point prevalence of heart attack in the community population decreased by 4.4% in the next year.
Conclusions: The large stock volatility could increase the risk of heart attack in the US population, and bring more CAD patients in ED visits. Consequently, in the community, the surviving patients with heart attack become less shortly afterwards
Keywords
Authors
Scarlett Ren
Share
References:
About BRFSS. (n.d.). CDC. Retrieved January 25, 2025, from https://www.cdc.gov/brfss/about/index.htm
Agarwal, S., Chen, S., He, H., Huang, X., & Li, T. (2024, June 7). Associations between stock market fluctuations and stress-related emergency room visits in China. Nature Mental Health, 2(8), 909-915. https://www.nature.com/articles/s44220-024-00267-5
Benjamin, E. J., Muntner, P., Alonso, A., Bittencourt, M. S. et al. (2019, January 31). Heart Disease and Stroke Statistics---2019 Update: A Report From the American Heart Association. Circulation, 139(10), e56-e528. https://doi.org/10.1161/cir.0000000000000659
Chandola, T., Britton, A., Brunner, E., Hemingway, H., Malik, M., Kumari, M., Badrick, E., Kivimaki, M., & Marmot, M. (2008, March). Work Stress and Coronary Heart Disease- What are the Mechanisms? European Heart Journal, 29(5), 579-580. https://doi.org/10.1093/eurheartj/ehm584
Edmondson, D., Richardson, S., Falzon, L., Davidson, K. W., Mills, M. A., & Neria, Y. (2012, June 20). Posttraumatic Stress Disorder Prevalence and Risk of Recurrence in Acute Coronary Syndrome Patients: A Meta-Analytic Review. PloS ONE, 7(6). https://doi.org/10.1371/journal.pone.0213635
Kario, K. (1998, August). Does earthquake-induced cardiovascular disease persist or is it suppressed after the major quake? Journal of the American College of Cardiology, 32(2), 553-4. https://pubmed.ncbi.nlm.nih.gov/9708495
Ladwig, K.-H., Lederbogen, F., Albus, C. et al. (2014, May 7). Position paper on the importance of psychosocial factors in cardiology: Update 2013. German Medical Science, 12(9). https://dx.doi.org/10.3205/000194
Lian, H. (2020). Short-term effect of stock volatility and cardiovascular mortality: a systematic review and meta-analy. Annals of Translational Medicine, 8(20), 1317 - 1325. https://doi.org/10.21037/atm-20-6557
Lian, H., Ding, X., Zhang, H., & Wang, X. (2020, October 30). Short-term effect of stock volatility and cardiovascular mortality: a systematic review and meta-analysis. Annals of Translational Medicine, 8(20). https://atm.amegroups.org/article/view/54435/pdf
Ma, W., Chen, H., Jiang, L., Song, G., & Kan, H. (2010, December 31). Stock volatility as a risk factor for coronary heart disease death. European Heart Journal, 32, 1006-1011. https://doi.org/10.1093/eurheartj/ehq495
Martin, S. S., Aday, A. W., Almarzooq, Z. I. et al. (2024, February 20). 2024 Heart Disease and Stroke Statistics: A Report of US and Global Data From the American Heart Association. Circulation, 149(8), e347-e913. https://doi.org/10.1161/cir.0000000000001209
Musey Jr, P., Schultebraucks, K., & Chang, B. P. (2019, November 25). Stressing Out About the Heart: A Narrative Review of the Role of Psychological Stress in Acute Cardiovascular Events. Academic Emergency Medicine, 28(1), 71-79. https://doi.org/10.1111/acem.13882
National Hospital Ambulatory Medical Care Survey | NHAMCS. (2024, November 22). CDC. Retrieved January 25, 2025, from https://www.cdc.gov/nchs/nhamcs/about/index.html
Qin, X., Liao, H., Zheng, X., & Liu, X. (2019, February 18). Stock Market Exposure and Anxiety in a Turbulent Market: Evidence From China. Frontiers in Psychology, 10(328). https://pmc.ncbi.nlm.nih.gov/articles/PMC6401606/
Share of Americans investing in stocks 2024. (2024, October 8). Statista. Retrieved January 24, 2025, from https://www.statista.com/statistics/270034/percentage-of-us-adults-to-have-money-invested-in-the-stock-market/
Vrijkotte, T. G.M., van Doornen, L. J.P., & de Geus, E. J.C. (2000, April 1). Effects of Work Stress on Ambulatory Blood Pressure, Heart Rate, and Heart Rate Variability. American Heart Association, 35(4), 880-886. https://doi.org/10.1161/01.HYP.35.4.880
Yusuf, S., Reddy, S., Ôunpuu, S., & Anand, S. (2001, November 27). Global Burden of Cardiovascular Diseases: Part I: General Considerations, the Epidemiologic Transition, Risk Factors, and Impact of Urbanization. Circulation, 139(10), 56-528. https://doi.org/10.1161/hc4601.099487
Other articles of the issue
