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Time-series analysis was applied on 47 city-level environmental and economic datasets and meta-analysis of the city-specific estimates was used to generate a global summary effect estimate. We found that, on average, a 10\u00a0\u03bcg\/m\n                    <jats:sup>3<\/jats:sup>\n                    increase in PM\n                    <jats:sub>2.5<\/jats:sub>\n                    reduces same day returns by 1.2% (regression coefficient: \u2212\u00a00.012, 95% confidence interval: \u2212\u00a00.021, \u2212\u00a00.003) Based on a meta-regression, these associations are stronger in areas where the average PM\n                    <jats:sub>2.5<\/jats:sub>\n                    concentrations are lower, the mean returns are higher, and where the local stock market capitalization is low. Our results suggest that a 10\u00a0\u03bcg\/m\n                    <jats:sup>3<\/jats:sup>\n                    increase in PM\n                    <jats:sub>2.5<\/jats:sub>\n                    exposure increases stock market volatility by 0.2% (regression coefficient 0.002, 95% CI 0.000,\u00a00.004), but the city-specific estimates were heterogeneous. Meta-regression analysis did not explain much of the between-city heterogeneity. Our results provide global evidence that short-term exposure to air pollution both reduces daily stock market returns and increases volatility.\n                  <\/jats:p>","DOI":"10.1038\/s41598-021-88041-w","type":"journal-article","created":{"date-parts":[[2021,4,21]],"date-time":"2021-04-21T06:44:41Z","timestamp":1618987481000},"update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":9,"title":["Ambient particulate air pollution and daily stock market returns and volatility in 47 cities worldwide"],"prefix":"10.1038","volume":"11","author":[{"given":"Simo-Pekka","family":"Kiiham\u00e4ki","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Marko","family":"Korhonen","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Jouni J. 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