The US GDP (advanced) report will be released in about an hour from now. The expected reading is 2.1%, which...
Coronavirus
On this page, you will find our latest news and analysis of the Coronavirus, and how it is affecting the world’s financial markets.
Special Article: Revisiting SARS and How the New Coronavirus Outbreak Can Affect Financial Markets
71,811
Total Confirmed
1,775
Total Deaths
11,364
Total Recovered
Coronavirus Map
In January 2019, news of a SARS-like coronavirus hit the newswires. It began in the Chinese province of Wuhan and is said to have come from animals. Its symptoms include a runny nose, cough, fever, and difficulty breathing. In more severe cases, it can lead to kidney failure and death. Officially the new virus is called 2019-nCoV, and it quickly infected over 800 people in less than two weeks. The death toll also rose from 3 to 25 in a matter of days. Countries outside of China soon began recording cases of the coronavirus from Japan, Thailand, South Korea, the US, and Australia.
To curb the spread of the disease, the Chinese government imposed a travel ban for the city of Wuhan. It was a bold move considering that Wuhan is a large city of 11 million people and is considered a significant transport hub. Soon after, eight more Chinese cities were limited from travel.
Consequently, the infection sparked public fears. It did not take long for that fear to affect financial markets. Among those adversely hit was the Hang Seng Index. The proximity of the financial hub to the epicenter took its toll on stocks in the retail, transportation, and property sectors. The Shanghai Composite Index initially benefitted from the news thanks to increased sales by pharmaceutical and mask-producing companies. However, risk aversion quickly caught on, and the Chinese stock index began trading lower.
On the other hand, safe-haven assets like gold and the Japanese yen saw increased demand as fears of the coronavirus mounted.
Latest News
Like most equities markets, the DAX Index has been weighed down by concerns of the coronavirus. However, today’s employment data...
Asian Equities Down as Fears of the Coronavirus Mount The Nikkei 225 gave up all its gains from yesterday’s trading...
EURUSD has lost around 180 pips in a span of 9 trading days. Most of the sell-off has been driven...
The FOMC has decided to keep rates unchanged in a move that did not surprise the markets. However, attention has...
Starbucks share price took a significant blow on Wednesday as the company admitted that the coronavirus had affected its Chinese...
Ripple price action is taking a breather today along with the rest of the cryptocurrency market. This followed a pause...
Silver prices (XAGUSD) tanked on Wednesday on the back of increased bids on risky assets, as markets start to shake...
The GBP to INR pair is trading a tad lower amid a slight easing in the Coronavirus fears as well...
Crude oil price trades higher today supported by the OPEC+ comments that they might deepen the output cuts to support...