COVID-19 – Virus for Global Economy

COVID-19 (coronavirus disease 2019) is an infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), previously known as 2019 novel coronavirus (2019-nCoV), a strain of coronavirus. The first cases were seen in Wuhan, China in December 2019 before spreading globally. The current outbreak was recognized as a pandemic on 11 March 2020. No effective treatment or vaccine exists currently (March 2020).

The World Health Organization (WHO) originally called this illness “novel coronavirus-infected pneumonia (NCIP)” and the virus itself had been named “2019 novel coronavirus (2019-nCoV).

Total positive cases 614,224 and deaths 28,240 from the Corona virus in the World businesses are coping with lost revenue and disrupted supply chains as factory shutdowns and quarantine measures spread across the globe, restricting movement and business activity.

Big shifts in stock markets, where shares in companies are bought and sold, can affect many investments in pensions or individual savings accounts (ISAs).

The FTSE, Dow Jones Industrial Average and the Nikkei have all seen huge falls since the outbreak began on 31 December.

The Dow and the FTSE recently saw their biggest one day declines since 1987.