Coronavirus causes havoc across markets
Coronavirus causes havoc across markets

The coronavirus panic has roiled global stocks. A nonstop stream of grim news from around the world triggered massive selling in stock markets with zero odds of their recovery in the near future. The global community has been facing tough challenges since early 2020: the pandemic of the pneumonia-like virus, the oil price war between Saudi Arabia and Russia, geopolitical tensions in the Middle East, the presidential race in the US etc. So, stock indexes in the US, the EU and Asia got vulnerable to the external shocks, having hit multi-year lows. The US benchmark indexes saw their sharpest intraday slump to the lowest levels since the Great Depression. Discouraged by the panic mood among the population worldwide, investors predict bleak prospects. At the same time, China managed to contain the spread of the coronavirus by radical measures inside the country. The US has also confirmed the gravity of the situation. To sum up, the COVID-19 has dealt a devastating blow to the global economy. It will hardly regain momentum in the foreseeable future. If the US declares quarantine and locks its borders, all previous global financial crises will look like insignificant troubles. As of March 19, 2020 at 13:46 GMT, there have been 9,479 confirmed cases and 155 deaths due to coronavirus COVID-19 in the United States.

Published: 2020-03-19 13:21:30 UTC
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