Markets take a hit as coronavirus spreads farther
BUSINESS RECORD STAFF Feb 24, 2020 | 9:25 pm
1 min read time
249 wordsAll Latest News, Health and Wellness, InsuranceIf you’ve consumed any recent news, you know the coronavirus is spreading. And while it’s been creating market uncertainty for some time, it’s now causing the global markets to slump. Near the close of the market this afternoon, the Dow Jones industrial average was down more than 1,000 points, or about 3.5%. We compiled a list of stories to take a look at to understand the implications of the disease.
From MarketWatch: IPOs are being put on ice as coronavirus fears rock markets
Companies across the globe are putting their planned initial public offerings on ice as the spread of the coronavirus rocks equity markets and dampens investor appetite for new investments.
From the New York Times: Will coronavirus cause recession?
Because China has the second-largest economy in the world, a hit to it will ripple across the world. “The coronavirus epidemic might have only a limited immediate impact on the U.S. economy, but by creating further uncertainty and disrupting supply chains in Asia, it will add to the long list of factors likely to hold back U.S. and global growth in 2020. The temporary boost in business sentiment and investment that could have been expected from the U.S.-China trade deal last month is going to be offset by this new cloud of uncertainty over global trade.”
Other reads on the coronavirus:
– New York Times: Is it a pandemic yet?
From MarketWatch: IPOs are being put on ice as coronavirus fears rock markets
Companies across the globe are putting their planned initial public offerings on ice as the spread of the coronavirus rocks equity markets and dampens investor appetite for new investments.
From the New York Times: Will coronavirus cause recession?
Because China has the second-largest economy in the world, a hit to it will ripple across the world. “The coronavirus epidemic might have only a limited immediate impact on the U.S. economy, but by creating further uncertainty and disrupting supply chains in Asia, it will add to the long list of factors likely to hold back U.S. and global growth in 2020. The temporary boost in business sentiment and investment that could have been expected from the U.S.-China trade deal last month is going to be offset by this new cloud of uncertainty over global trade.”
Other reads on the coronavirus:
– New York Times: Is it a pandemic yet?
Trending News
