WORLD STOCK BY CORONAVIRUS OUTSIDE CHINA
The World’s equity markets fell while at the same time, the dollar fell on Thursday as the number of coronavirus outside China rose rapidly. It prompted California to declare a state of emergency, in other places like the HSBC in London.UniCredit of Italy also relieved of staff, and it gets projected that most of the corporations worldwide will have profit warnings, and set targets will not meet them. A report has pointed out that the travel industry in Britain has got severely affected by the big casualty of the outbreak in the region. In the British commercial broadcaster ITV, its holdings fell by 12%after warning that revenue for April would drop by 10%. The global economy in 2020 is perceived to grow by 1% compared to 2.6% last year. Notably, the pandemic is now in 82 nations, and it is still causing deaths.
On Wednesday, the U.S. economy saw a sharp resurgence after Biden won a majority in the primaries, and these also prompted the house of representatives to approve an $ 8.4 billion fund to curb the COVID-19. Coronavirus outbreak has caused the stock markets to fall sharply, and the U.S. has not got left behind. S&P 500 lost 2.42%, Nasdaq composite lost 1.88% of the earnings Wall Street and Dow Jones Industrial Average fell by 2.59%.
Eight weeks in a row, the dollar has consistently dropped as traders bet that the federal reserve will reduce the interest rates, but it is not. Meanwhile, the gold price is still on rice by about 1.5%. Various questions that can be asked are how does the government prepares to fight coronavirus that is many crippling economies. Are there policies that can get developed to ease the coronavirus outbreak for countries away from China. How does the health sector prepare to mitigate coronavirus cases and mechanisms in place to fight the pandemic? What are the industries that are not closely affected by the epidemic, and are they sustainable? Another question would be what are various practices that the corporations and the Federal Reserve can adopt to ease the economic crisis.
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