The Guardian: Global markets tumble for second day amid fears of coronavirus spread
Dow Jones lost 877 or 3.1%, the tech-heavy Nasdaq dropped 2.7% and the S&P 500 fell 3% following similar losses across the Atlantic
Investors sold off shares across the world for a second day on Tuesday as fears of the economic impact of the coronavirus continued to grow.
In New York the major markets experienced their biggest drop in two years amid fears that the growing virus outbreak will put the brakes on the global economy and more companies warned the outbreak will hurt their finances.
The Dow Jones lost 877 or 3.1%, the tech-heavy Nasdaq dropped 2.7% and the S&P 500 fell 3% following similar losses across the Atlantic.
In London the FTSE 100 index closed at its lowest level in a year, down 1.9% at 7,018, lowering the value of Britain’s blue-chip companies by about £35bn and contributing to a two-day loss of nearly £100bn. Germany’s Dax fell 1.8% and in France the CAC fell 1.94%.
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More News On Global Stocks And Commodity Prices Plunging For A Second Day Amid Fears That The Coronavirus Is Spreading
Stocks plunge for a second day as the Dow lost more than 800 points on Tuesday -- CNBC
Stocks sink, bonds soar on fears virus will stunt economy -- AP
Wall Street's sell-off deepens as coronavirus fears intensify -- Reuters
Financial markets drop again on coronavirus fears -- BBC
US stock markets nosedives for second consecutive day -- DW
Oil Prices Rise Above $50 On Smaller Than Expected Crude Inventory Build -- OilPrice.com
Oil prices have tanked 12% since coronavirus exploded globally — but key OPEC members swear the alliance will take action to stabilize if needed -- Business Insider
Gold retreats from seven-year high, but virus fears limit losses -- Reuters
Fears of a ‘supply shock’ are rattling stocks and global markets as viral outbreak continues -- CNN
4 comments:
Factories are starting back up in China. The leadership needs the money. The Argentine has been done, so there is no use in destroying an economy for a virus that was a 2% or 3% or less death rate.
Also why we freaked out more about COVID 19, but being afraid of ebola with an 80% was racist?
And the official political/economic panic has begun. Which will be far more destructive than this virus has been.
Anon 8:52) & Russ,
So right, unfortunately.
If I recall correctly, the ebola virus is a spiral in form. It is brittle outside a host. That makes its spread much less likely. However if it gets on a surface just tight, it lasts a long, long time. The word fomite came into general use among the public.
With good hygiene quarantine, medical equipment, and not touching people, you can contain it. People ion Africa would touch the deceased. This is normal and probably something European people did before the industrial era and embalming. At least that is my understanding for the spread of ebola. That and the lack of equipment and consumables at African hospitals.
However, we were told that we were racists for wanting to shut down air flights to and from Africa. It seemed pretty contagious, when a person lied about his condition, flew to Texas and then one of the nurses attending him contracted it.
It is also my understanding that a disease bacterial or viral is never bother highly deadly and very communicable for long. It is one or the other due to short term evolution.
Russ is right. The politicos and others are causing more damage then the disease ever would.
Also, IMO this disease has been around since the dinosaurs. There is probably no viral combination that has not already evolved de novo and died out several times every 1,000 years. This virus is not new.
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