What we know about the financial crises is that we don’t know much.

Financial crisis is any broad variety of situations in which some financial assets suddenly loose a large part of their nominal value these situations are interlinked with the stock market crashes and the bursting of the other financial bubbles, currency crisis and sovereign defaults.In the 19th and early 20th century,many financial crises were associated with banking panics,and many recession coincided with these. Financial crises directly results in loss of paper wealth.The World major economies are currently affected by the pandemic this is a crisis like no other, and there is substantial uncertainty about its impact on other and people’s lives and livelihoods. A lot depends upon the epidemiology of the virus , the effectiveness of the containment measures and the development of the vaccine which is hard to predict.The corona virus recession or the great shut down has which rose an economic consequence.The first major sign of the corona virus was the 2020 clash stock market clash and the International monetary fund (IMF) reported that all of the G7 nations has already entered or entering the “deep recession” and that had already lead to slowdown of the emerging economies.The recession had led to unemployment Worldwide and the recession saw the collapse of the price of oil triggered by the price war.During the crash, global stock market made unpredictable and volatile swings mainly due to extreme uncertainty in markets.