Evidence map›Paper›PMID 42177504›Full record

ArticleBMC public health2026

Association between stock market returns and outpatient visits for hypertension: evidence from a large city in East China.

Shibao Wang, Minghua Ye, Siqi Zhong, Xiaojun Shao, Tongjiang Wang, Bei Wu

Abstract read
In one paragraph

Article in BMC public health, 2026. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Not yet cited in PubMed.

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1 · What the graph read from it

What it found

Each row is one number read from the abstract, on the scale the paper reported it, with its interval. Left of the dashed line favours the treatment, right favours the comparator. Under each row is the sentence it came from. New to these charts? A ten-minute tutorial.

The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.

2 · The registry

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3 · Its place in the literature

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4 · The record

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PubMed lists nothing against this paper. Absence here is not a guarantee, only a check that was made.

5 · Who and what money

Authors and funding

6 authors.

Shibao Wang *School of Public Management, East China Normal University, Shanghai, China.
Minghua Ye *Key Laboratory of Advanced Theory and Application in Statistics and Data Science - MOE, School of Statistics, East China Normal University, Shanghai, China.
Siqi ZhongFaculty of Business and Economics, University of Melbourne, Melbourne, Australia.
Xiaojun ShaoSchool of Nursing and Health Management, Shanghai University of Medicine and Health Sciences, 279 Zhouzhu Highway, Pudong New District, Shanghai, 201318, China. shaoxj_24@sumhs.edu.cn.
Tongjiang WangSchool of Economics and Management, East China Normal University, 3663, North Zhongshan Road, Putuo District, Shanghai, 200062, China. tjwang@finance.ecnu.edu.cn.
Bei WuNYU Shanghai, Shanghai, China.

Funding

China Research Center on Aging (2025CRCA02)
6 · The paper itself

Abstract

backgroundAs more household assets are allocated to the stock market, the health externalities of stock market returns have become a focal point of interdisciplinary research. However, prior evidence has largely focused on medium to long term associations with healthcare-seeking activities, leaving the immediate healthcare seeking response in emerging economies underexplored. Leveraging data on both regular outpatient visits for hypertension (ROV) and major illness outpatient visits for hypertension (MOV), this study examines the immediate association between stock market returns and such visits.

methodsThe sample for ROV and MOV is constructed from 30,715,658 regular outpatient records and 94,370 major illness outpatient records from a major city in East China. Using daily data, this paper first quantifies the association between stock market returns and outpatient visits for hypertension. Second, it employs a regression discontinuity in time (RDiT) design to strengthen credibility. Third, it applies a monthly nonlinear model to examine how extreme negative returns are associated with MOV. Separate estimations are conducted for ROV and MOV.

resultsWe find that outpatient visits for hypertension are significantly higher on days when the stock market declines. This association is especially strong among seniors and those with poorer baseline health. Ambient temperature is weakly associated with ROV but explains more variation in MOV. Using monthly data, we also observe a significant negative association between stock market returns and MOV, particularly during extreme market declines (e.g., crashes).

conclusionsThese findings indicate a strong association between stock market returns, particularly price declines, and outpatient visits for hypertension. The association is immediate and transient, offering insights into the broader public health implications of economic shocks and filling a gap in the literature on emerging economies and healthcare seeking behavior.

Indexed as

Ambulatory CareHypertensionInvestmentsAdultChinaFemaleHumansMaleMiddle AgedEast ChinaHypertensionOutpatient visitsPublic healthStock market returns

Identifiers

PMID42177504
PMCPMC13374058

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Read under generation 80e0d062 · epoch 390. Bibliography from PubMed, PubMed Central and OpenAlex; grants from NIH RePORTER; trial links from ClinicalTrials.gov; estimates, votes and beliefs from the OpenQuestion graph.