Stock market resilience is driven by expectations of an early vaccine resulting in a V shaped recovery. Should this fail central banks will keep printing money, either way, equities are well supported. The mad rush to develop a vaccine which can be widely deployed, doesn’t compromise on safety and is effective in providing immunity may yet backfire. A poll for the World Economic Forum found that only 37% of adults polled had a strong interest in getting a vaccine. The fact that the makers of vaccines are being offered legal immunity does little to inspire confidence in a process seen as rushed for political expediency. While the focus seems to be on deployment, if safety or immunity are compromised, trust will be dented, delaying the recovery, and impacting negatively on stock market valuations.
More about this read here: https://www.bloomberg.com/view/articles/2020-09-04/coronavirus-trust-in-vaccines-could-turn-on-a-knife-edge
