The Coronavirus Is Now Tanking the Stock Markets
Markets around the world have been in decline, culminating with a significant plummet in the U.S. stock market on Monday, according to The New York Times. Fears of an economic downturn emerged nearly as soon as the virus COVID-19 did, but the sudden drop appears linked to news of efforts to contain the disease not working as well as expected (or hoped).
That resulted, the NYT reported, in notable drops in the Dow Jones, the S&P 500, as well as stock prices for oil companies, airlines, and Apple, which sources materials from China. Marketplaces in Europe recorded their lowest values since 2016, with China and South Korea also sustaining economic hits.
“The immediate impact of a large China demand and supply shock will be substantial,” JPMorgan analyst told the NYT.
via Futurism The Coronavirus Is Now Tanking the Stock Markets