If you pay attention to the stock market, you know that the numbers are continuing to plummet, evident by today’s roughly 2,000-point downswing. This isn’t a bad thing for people who understand the stock market. However, for people who are starting to panic because they worry about the money they’re losing, it means they sell at a high rate. The true reason for stocks continuing to go down is because so many people are selling. However, most people contribute this to the coronavirus panic.
When people in the stock market panic and sell to avoid loss of money, they cause stocks to drop further. But not only is the stock market impacted by the coronavirus. Retail stores are seeing an impact as well. They may be pleased because people are buying their supplies. But it also means this surprise shopping spree has other impacts on the global economy. It’s all due to the panic of the coronavirus. We looked at 20 ways hysteria over the virus has already impacted global economies.
20. Understand The Coronavirus
The coronavirus is a strain of the virus new in this world. Or at least, people hadn’t discovered it until a few months ago. It’s now known as the COVID-19 strain. It’s a respiratory illness started in China. Most people compare it to the flu or the common cold because the symptoms are similar. Two out of the three main symptoms are a cough and fever. The third symptom is shortness of breath. That usually pushes people to go to the hospital. Because of this symptom, experts refer to the coronavirus as a respiratory illness.
The coronavirus started in China and quickly spread, which is why people are worried about it. Since its discovery about four months ago, over 90,000 people received a diagnosis. Out of this number, a little over 3,000 people have passed away, most of them aged 70 and over. Even though the numbers are scary, you shouldn’t overreact about the virus. Most people have mild symptoms. Some don’t even realize they are sick.