Relationship Between the Declines of Stock Price Index and Suicide Death in Taiwan from 2012 to 2022: Moderating Effects of Sex, Age and Business Cycle Index.

We aimed to examine the associations between various magnitudes of declines in the Taiwan Stock Exchange Capitalization-Weighted Stock Index (TAIEX) and suicides on the day following these declines and its possible moderating effects. We analyzed daily suicide data between January 1, 2012, and December 31, 2022. Quasi-Poisson regression models were employed to examine the cross-sectional (the same day) and lagged (one to seven days later) relationships between falls of TAIEX and suicide death. Suicide rates increased two days after days with ≥ 5% declines in daily TAIEX. Associations between slight declines in the daily TAIEX (such as ≥ 1% and ≥ 2%) and suicides were less pronounced in females; however, associations between substantial declines (≥ 3%) and suicides were more prominent in females. The associations between substantial declines in the TAIEX (such as ≥ 4% and ≥ 5%) and suicides were more pronounced in middle-aged and older individuals. As business cycle conditions improved, the associations between falls in TAIEX and suicides intensified. We should pay more attention to the risk of suicide when the stock market index declines by 5% or more, especially among females, middle-aged, and older individuals, during periods of economic prosperity.