With the Coronavirus now a global talking point, more and more people are beginning to take the issue seriously. Many see this as an issue that is growing in severity all the time, with more cases being announced worldwide on a daily basis.
However, the latest cases have caught the eye for a whole host of reasons – not least the fact that the US now has at least two confirmed cases on mainland USA.
This news has seen the stock market go into overdrive, with stocks plunging due to the outbreak of the virus.
The stock market has seen its biggest dip of the week following the announcement, with fears that the slowdown in China could lead to a global halt in productivity and performance.
It’s making many investors twitchy, with the stock markets seeing some major changes in their overall numbers.
The number of people infected is growing, and China has now seen more people die from the Coronavirus outbreak as they did in a single year from the SARS outbreak in the 2000s.
it’s mostly companies in the aviation sector that are seeing big losses, though; the likes of United Airlines and American Airlines have both seen stock drops take place in the last few days.
So, too, has the Dow overall. The Dow was down around 0.6% when the news of the second Coronavirus patient was made clear. Air China and China Eastern both noticed large stock drops in the last few days, too.
These stock drops could create a domino effect, with others pulling out due to the uncertainty of what will come next.
The virus is expected to have a major impact on the Chinse New Year celebrations alongside their normally booming tourism industry.
This has seen major resorts see their shares slump, and it’s also seen major casino resorts and the like – such as Las Vegas Sands – lose a few percentage points to their value.
With stocks for the likes of McDonald's and even Disney dropping due to closing stores around China, for now, this is a growing business concern.
It’s likely to see a spread into the retail sector, too, with many companies either having to close down for now in China or suffering from supply issues in their own countries.
This virus, then, is having more than just a human cost on the lives of those tragically infected. It’s an issue which is spreading, much like the virus, into various other walks and parts of life.