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Showing posts with the label stockmarket question

Coronavirus economic impact on world

 In December 2019, a new respiratory illness known as COVID-19, caused by a novel coronavirus, was first detected in the central Chinese city of Wuhan. Within the first five weeks of the outbreak, tens of thousands of people were infected and more than a thousand died.  The outbreak has been categorized as a public health emergency by the World Health Organization. Not surprisingly, the virus is having economic impacts throughout the world. Major companies like Apple, Starbucks, and McDonald's closed stores in China, and airlines around the world have canceled flights to and from the region. On January 31, 2020, the Dow dropped more than 2% during the day on coronavirus fears, wiping out all the gains for the month of January.  However, the U.S. stock market seemed to quickly recover, hitting new all-time highs on February 12 even as the virus continued to spread. It's not clear how much the virus will impactU.S. investors, but the effects could go deeper than just retail...