Coronavirus: the Economic Impact - BBC News

Financial markets plunged again on Tuesday as investors continued to worry about the spread of the coronavirus.

The Dow shed almost 900 points, falling more than 3% to close at 27,081. The S&P 500 also closed more than 3% lower, while the Nasdaq sank 2.8%,

The declines followed drops overseas. In the UK, the FTSE 100 fell almost 2% to a 12-month low of 7,018, while Japan's Nikkei 225 index fell 3.3%.

The human cost of the coronavirus outbreak is climbing across China and beyond. The economic cost is also mounting, mainly, but not only, in China.

That damage is, for the most part, not due to the virus itself so much as efforts to prevent it spreading.

There are strict restrictions on moving out of Wuhan, where the outbreak began, a city with a population of 11 million.

The lockdown, also now extended to other parts of Hubei province, prevents business-related travel as well as the movement of goods and workers.

Fear of the virus also means many people will choose to avoid activities they think might expose them to the risk of infection.

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[alanparker]

Yes, prepare for a pandemic.. as though it wasn’t already a pandemic

[XanhDT]

“The U.S. is expecting an outbreak and it will be bad” in other words, there are unaccounted vectors walking the streets. Good luck.

[bokz]

I'd rather suffer financially than health wise

[BarryLiu]

It has been going on for two months, and the negative impact is not even clear, not mentioning how to tackle it.

[ohhlkxl]

What a special year 2020 is. We're only in February btw

[alanparker]

Can’t listen to this WHO guy any more, lost all credibility with me

[captainhakob]

That's what you get when you out source all your jobs to save a buck.

[VoodooDewey]

You don't need an economy when you have no people !

[julieday]

STILL AN OUTBREAK?....NOT DECLARED A PANDEMIC YET?

[georgiob]

First positive in Greece, in my town...Wish me luck...

[danielsckarin]

There is a positive side: Less CO2 pollution as well as plastic pollution.
Investors say it's a good time to buy when everyone is panicking and selling. I'm not sure that this gonna work at this time. It could become the start of a global crisis.

[Champik]

Earth to people: so you don’t really want to stop pollution, aren’t you? Ok, I will make it my way.
Corona: let me introduce myself

[carlwilliams]

The economy seems to be more important than trying to stop corona!

[ladyflibblesworth]

STOP WORRYING AND KEEP ON SHOPPING, WORKING, SPENDING AND SPREAD THAT VIRUS!

[josephnguyen]

Transportation, Travel service agencies, crude oil, hotels, restaurants, automobile makers, real estates, and all the high tech technologies stock market will be down turn for a long time.

[Eternalised]

It's currently considered as an epidemic, rather than a pandemic, which is defined as an ongoing epidemic on two or more continents, the main focus remains in China. Although vaccines are being made by various companies and even after this epidemic ends, the residual shock on the globe will really affect China as global companies are going to reduce their supply chains in China, having a more lasting impact on its future economic growth potential.

[churchofrocknroll]

They went for gloablism and cheap china production and now its payback time!

[rrfirefly]

"Honey? How about we go on a cruise? I just checked and there are all kinds of special deals online."

[dougg]

Doesn’t this fell like the “ not if but when “ scenario they have been talking about for years? Fascinating

[zooqpose]

Me : these are the Numbers on the China virus
My Dog : yep that a PANDEMIC
W.H.O: Don’t panic, its still an epidemic