During the volatility that accompanied the onset of the pandemic in 2020, bans were imposed for several months in France, Spain, Italy, Belgium, Greece, Austria and South Korea, while the European Securities and Markets Authority ordered traders to disclose more information about short sales. Enter The Sovereign, an arch-demon who promises to reunite Jackie's body and soul, but at a price that may be worse than Hell itself. China’s regulator blamed “malicious” short selling in part for a stock market crash in 2015, placing limits on the practice as well as arresting traders. Jackie soon discovers his battle with The Darkness cast his soul into Hell while leaving his body and mind on Earth.
The US cracked down on short selling during the Great Depression and joined the likes of the UK, Germany and Japan in limiting short selling or banning it during the financial crisis that erupted in 2008. Even so, many markets issue temporary restrictions during periods of market turmoil - in part because critics say short sellers can transform downturns into full-blown panics. What is banned either partially or fully in several markets is so-called naked short selling - betting on a stock’s decline without having first borrowed the shares.
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