Today, people belonging to different countries realize the destructive power of Coronavirus, spreading everywhere. We also understand that this epidemic is not only consuming humans but also the so called habitat.
Let’s have a look at how it is impacting the financial market:
According to a recent study, ‘covering every scenario, global growth in 2020 will drop even below last year’s level. Under any scenario, global growth in 2020 will drop below last year’s level. The question is how much is it going to drop and how long, will it take to predict, and this would considerably depend on the spread of the disease. At the same time, it relies upon also the timeliness and effectiveness of current actions.
What are the major effects of Coronavirus?
It has been observed that banking stocks are Banking stocks, coronavirus spread fears pull markets down, Sensex dives 894 points close to 37577, Nifty ends below 11,000.
Covid19 to pinch the global growth in a full packed manner. After a long thread of affected cases, a few dips took place in the stock market and financial scene. There’s surely a good reason to be afraid of the coronavirus.
So how to make it better? We should head towards China for the first level steps. The news has been constantly monitoring the newer cases, rising deaths & falling economic growth. So, who’s taking the essential steps to stay immune from adverse effects?
All economies are impacted in some way or the other more than China can ever imagine. Face-to-face service industries are the type of businesses that dip down when fearful individuals start to withdraw from the market. This also primarily dominates the high-income countries more than China.
Read Also: How to prepare for Coronavirus: 9 steps you can take
How badly is India affected?
According to a UN report, the trade impact of Coronavirus for India has been estimated at $348 million.
Infact, global air cargo has reduced to 3.3% in the month of January.
India is supposed to be out of the 15 most affected economies by coronavirus catastrophe, followed by the devastation in China.
It’s being estimated that the economic dent owing to epidemic has been around 348 million dollars and India will have to bear the brunt of massive slowdown in China. This has substantially disrupted the global trade.
A survey by UNCTAD also revealed that the disastrous outbreak will eat up 50-billion-dollar worth of exports. The badly affected sectors have been precision instruments, machinery, automotive, communication equipment, so on & so forth.
So we see that corona is keeping the masses on their toes along with a negative impact on their businesses, livelihood & sustenance.
