The Corona outbreak, which originated in China now rapidly spread across the world and has infected more than 10,15,000 or death cases are more than 53,000 worldwide. After Italy, the Novel corona-virus affected the United States of America and the number of cases is never stopping but still, the number of counting of infected peoples is continuing.
The pandemic of COVID-19 will hit a deep recession in the worldwide economy during the first half of 2020.
Big fluctuations in the stock market, the Dow Jones Industrial and the Nikkei have huge fall the average fall over 23% in its worth quarter since 1987 while the S&P 500 fall down by 20% which is its biggest quarterly loss since 2008.
With the great fluctuations in the market, investors afraid of the spread of Corona-virus which will destroy the worldwide economic growth and steps taken by Governments of all Countries are not enough to stop the outbreak of COVID-19.
In also addition, Central Banks of many countries including India have slashed the repo rate as well as interest rates. Which may make to make borrowing cheaper.
The outbreak of COVID-19 hit the airline industry with thousands of employees are being laid off or placed on unpaid leave.
GDP rate of Australia slow down 1.6% in 2019-20 would be signifying a poorer result that recorded during the Global Financial Crisis period. The tour operator industries in Canada are decline around 1.7% in 2020 due to the border closure between Canada and the United States.
According to the expert’s report, the pandemic of the COVID-19 outbreak will reduce the economic growth in 2020 between 0.2%-0.3% globally.
Stay Home and Stay Safe