摘要：The Covid-19 pandemic process negatively affected the countries of the world in psychological, sociological, economic and even political aspects. That negative effect has happened several sectors such as health, tourism, finance, manufacture and food. The underlying theory of this effect is the chaos theory and one of its basic assumptions, i.e. the butterfly effect. When the first case of Covid-19 was diagnosed in Wuhan of China, the other countries didn’t take care the problem believing this disease was a local one at first. Therefore, unexpected outcomes has taken place and financial markets have collapsed. In fact, “when a butterfly in Africa flutters its wings, it can cause a hurricane in America”, as expressed in the butterfly effect theory. Therefore, small things that seem to be insignificant are the building blocks of a system and may cause great drawbacks in the system in the future. Also this theory applies extremely for financial market. There are so many variables or factors affecting financial markets and underestimating any of them may cause negative effects on all of financial markets. The butterfly effect of the Covid-19 process on financial markets was believed to be limited with the Chinese economy; however, negativity in any part of the world in the butterfly effect affects the whole world. The countries of the world need to avoid acting alone and be in communication with and help each other in order to be able fight the Covid-19 global pandemic. No country alone is expected to solve this pandemic on its own. First of all, the health sector is given importance and solutions such as vaccines, treatments, etc. are tried to be produced in order to break this epidemic. Then, in order to get rid of the economic impact of the epidemic with minimum damage, measures are taken under the topic of financial support packages including tax reductions, low-interest loans, loan payment rescheduling, grants and supports for businesses, supports for the banking sector and liquidity increase to overcome cash problem in the market. The difference of this study from empirical studies in the literature is that it has been carried out to express with which theory the uncertainty environment caused by the global epidemic will be explained and how this theory will affect the world financial markets.
