How is Covid-19 affecting major countries economy so far?

We are in the middle of the deepest global recession in decades all due to the wild spread COVID-19 and the government's efforts to keep their citizens afloat while businesses are on lockdown to stop the spread of this terrible virus. The scars from this are profound, will last a long time, and there is no surety that the tortured economy will come back.

Not only has there been an unrecoverable loss of human life, but the pandemic is also expected to plunge many countries into recession not seen since 1870. One market that has taken a beating is the collapse in oil demand and a sizable dip in oil prices.

COVID-19 is a global pandemic, which is affecting all of the countries over the world. While death tolls and positive cases vary, one thing that is in common with the virus is the toll it is taking on the economies. China is feeling the hit because they are the manufacturing nation for many businesses such as Apple and Nike. With their warehouses and facilities being shut down, this is preventing these businesses from making income and releasing new products, which is having a ripple effect on the other countries. The United States has a high unemployment rate, which is causing certain markets to crash.

Coronavirus is impacting everyone around the world. At the moment, much of the focus is on the physical toll it is taking on those who have been affected by the virus.

However, it is impacting the economy of many countries as it appears theses issues will prolong for awhile. With a stay at home orders being issued for most states and regions around the world, unemployment numbers are rising because not all companies have the ability to provide work from home.

Along with that, stores that may have already been struggling are now going bankrupt or closing altogether because they do not have the funds to stay open.

COVID 19 is definitely making a lot of changes with the economies of different countries. A lot of the countries that are affected are seeing their economy go down probably because there is not enough money that is going around. There are a lot of businesses that would need to be closed down temporarily because they cannot operate.

Businesses that sell items that are not considered to be “essential” are having trouble operating because they will not be allowed to open until further notice. The lack of open businesses means that there are not enough jobs to go around. Some people are not getting enough money during this pandemic.

There are a lot of people who are already starting to feel how much the Coronavirus has started to affect the economy of the country that they are living in. This is already a known fact that Coronavirus has required people to make major changes with the way that they live.

What used to be so normal before has already changed. People are now required to do social distancing. People are not allowed to just go outside their homes. Most businesses are affected and would need to close down. There are also a lot of businesses that have not sold anything for the past couple of months and this has caused a dip in most countries’ economies.

There are different factors that may affect how coronavirus will affect the economy of the affected countries further. It is obvious that how long this would last will still be difficult to predict. The stock market and bonds are not as stable as they used to be. In fact, those who have been doing stocks all their lives may say that this is not one of the best times for the stock market.

There is also a lot of impact on the jobs that are affected. A lot of people have no work and they also do not have enough money. This is definitely a human tragedy that is making a lot of businesses lose money. Some businesses are affected more than the others definitely.

There are a lot of people who do not seem to realize just how much the Coronavirus has really affected a lot of the countries wherein cases of this virus have been found. A lot of the countries are starting to report that their economies are starting to dip low because of the virus.

In order to contain the virus, there is a need to slow down the economic activity of the country. Not all countries will be able to take the economic slow down. In fact, this is one of the reasons why some countries like the US do not want to do a total lockdown. A lot of businesses have to close down because of this.

China is currently conducting the most extensive quarantine in history. Millions of people are on lockdown across sixteen Chinese cities. When you look at the empty roads and subdued subway carriages, you can see with your own eyes what this virus has already done to the economy.

The epidemic and associated containment measures create both a supply and demand halt on the economy. Consumer spending has been eradicated because of the quarantine. In China, the economy was hit at a very crucial time, the Lunar holidays. The pressure was placed on the tourism industry, as well as countless other industries in several countries. The economy is dead everywhere. Health, poverty, and global economics are now unfathomably interconnected.

So many people in China have been infected with the virus. The highest death toll in one day is 168 people. In the United States, local authorities have declared an emergency due to the transmission of coronavirus in eight provinces. These include New York, Washington, California, and Florida. The outbreak has also spread to Iran.

The industries that are suffering the most due to the attack include travel and tourism, airlines, retail, oil and gas, shipping and logistics, constructions, medical, and pharma. Small businesses have also been shutting down. These are the industries that will need help and support from their respective governments once the dust settles.