Wednesday, January 29, 2020

Stocks Fall As Global Fears Of Coronavirus


Officials have confirmed nearly 2,890 cases of the deadly virus around the world, including five in the U.S Stocks fell Monday as concerns surrounding spread of the deadly coronavirus triggered fear around the globe. The Dow Jones Industrial Average fell 384 points, 1.32%. Monday and the S&P 500 dropped 43 points or 1.3%. The Nasdaq composite also slid, falling 145 points, or 1.56%, as deaths from the coronavirus climbed to at least 80. 
Health officials have confirmed nearly 2,890 cases of the virus around the world, including five in the U.S. across four states. At its lowest level since October, the yield on the 10-year U.S. Treasury fell as much as 1.61% on Monday.As fears rise, tourism is taking a hit and airline stocks United and Delta tumbled nearly 4%, while American slid 5.3%. Travel stocks Expedia and Marriott International dropped 2.3% and 1.6% respectively.Consumer stocks with exposure in China, including Apple and Nike dipped 2.35% and 1.5%, respectively.
As the virus throws global stocks into a state of fluctuation, Will this have a further shock in the stock market due to the scale of the problem? 
https://www.usnews.com/news/economy/articles/2020-01-27/stocks-fall-as-global-fears-of-coronavirus-rise 

4 comments:

Anonymous said...

It is noteworthy to see how much investment has fallen in the past couple of days due to the coronavirus outbreak. However, I would bet that stocks will recover soon as most of the stocks that fell have been historically strong.

Sophia Ahmed said...

I belive future shocks are possible until there is some sort of stability established against the virus and in China, but eventually the markets will stand to recover. Certain stocks like those within airlines and travel stock and certain consumer goods might take a greater hit than others. Volatility is likely until there is some sort of solution against the virus.

Unknown said...

There is not much known information regarding the coronavirus, so it has many people afraid. I believe it makes a lot of sense that airlines and travel stocks have fallen because of this. As health officials begin to gain more information regarding the coronavirus, stocks will begin to recover. Until then, I believe airlines and travel stocks will continue to fall. Stocks for companies that operate in China will also continue to fall because of the risk associated with them.

Cody Gault said...

Recent Footage of China has shown the streets and usually booming markets almost completely empty. As the virus spreads more and more, the Chinese people are going out less and less. This in turn can lead us to believe that economic production is being slowed severely in China. Globally, the stocks of airlines and hotels have been impacted drastically. Being that China is the 2nd largest economy, anything that happens to them, will affect the world in some way economically.