The coronavirus is taking a huge toll across the globe in terms of both human life and the economic status of many countries with massive slumps in the markets. Here is an update of the crisis that has been taking new turns each passing day.
The markets continue to witness the pressure of the impact of corona virus on global economy as new infected cases continue to rise globally. The United States of America has already reported more than 10,000 infected cases whereas Italy has been reporting more than 500 deaths each day. So far the death toll for a single day reported by Italy is the worst; it has even surpassed that reported by China. Globally everyone has realised that what started as an epidemic in just one country in the continent of Asia has soon become a very serious pandemic with probably extreme long-lasting after-effects.
During the fortnight, markets globally continued to witness a fall as panic among investors increased following the uncertainty of the end of corona virus. Moreover, markets failed to experience any confidence in the revival of the economy. Majority of the countries announced complete lockdown, banning arrival of any international flights across their borders, and if allowed, the passengers have to undergo strict medical screening. This was expected to severely impact businesses all over the world, and that is what has happened. A few experts have suggested that with such impositions, if the aviation and tourism industry doesn’t receive any financial support, it may go bankrupt by end of May 2020.
This story is from the March 30, 2020 edition of Dalal Street Investment Journal.
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This story is from the March 30, 2020 edition of Dalal Street Investment Journal.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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