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Mon, May 20, 2024

Corona virus crashing forex, stocks, commodities, share market

Corona virus starts to spread all over the world that really affecting all kind of financial markets, businesses such as airlines, travels, import, export, etc,.

US President Trump announced “All travel from Europe will be suspended, except the UK for next 30 days due to this Corona virus cause in European countries.

The International Air Transport Association said last week that global airlines stand to lose $113 billion in sales this year if the coronavirus continues to spread — similar to the aviation industry’s losses during the global financial crisis of 2008.

The index tracking travel and leisure shares on Europe’s Stoxx 600 was trading 12% weaker on Thursday, taking losses this year to 40%. The Dow Jones US Travel and Leisure index was down 10% in early trade -— it’s lost about 35% this year.

According to the US Travel Association, 850,000 international visitors entered the United States via Europe in March 2019, accounting for about 29% of total overseas arrivals and spending of about $3.4 billion USD.

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