Corona Virus Hits the Global Economy

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Corona Virus also known as Covid-19 is now a pandemic disease that was started in Wuhan of China and is now spread all over the world. There are lakhs of people who are suffering from Covid-19 and numerous people who have lost their lives. This virus has not only badly affected the lives of people but also there is a huge effect of virus on the current economy of the whole world. The level of GDP is going down day by day and every one is clueless on how to come up from this pandemic. The biggest impact of corona virus has been on many of business and have hit hard.

How does coronavirus affect the economy? | World Economic Forum

Corona Virus Hits the Global Economy

Stock Market

Stock Market has got the biggest hit among all the business people. Stock market, where the shares of companies were sold and bought by many people who have invest their money are suffering from huge loses. It seems like investing on short term plans are also risky.

Oil Prices Crashed

Another major impact on the current economy of the whole world is on oil or petroleum industry. Where the whole world in on lock down and there is no transport. The demand for petroleum products has gradually decreased.

Travel Industry

Travel industry also has been hit hard because of this pandemic disease. To stop the further spread of virus the govt has imposed strict regulation on travelling because of which the airlines have been cancelled, business trips and holidays are cut off which also effected the hotels and resorts.

Trade

Another impact of covid-19 which is having a great impact on the global economy is trade. As we all know most of the countries are on lockdown and are not transportation is not allowed plus the demand for any commodity has decreased be it automobiles, gold or others.

These are some of the biggest impact on the business that have a direst impact on the current economy of the whole world. These businesses where a huge part to the economy of the whole world. It is also said that this impact of corona virus is much worse than the great depression or world war two. We hope you and every one in this world stay isolated and social distance yourself so that we all could pass this phase and again start living a normal life.

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