Corona virus which was first appeared in Wuhan, now almost all the countries are affected by this deadly virus. This pandemic disease not only have a great impact on the human lives but also on the economy of all the countries. Due to the rapid spread of corona virus the whole world is into quarantine and have self-isolated themselves to stay safe.
Biggest impact of COVID-19 on the economy
Hits stock market
One of the biggest corona effect is on the stock market. In stock market where shares are bought and sold, investors fear that this pandemic disease may completely bring down the economy. Many investors are facing huge loss where it may seem difficult come back on the same page. It is uncertain to predict when everything may get normal but till then even safe investments are appearing risky.
Another biggest effect of corona that has hit the most is on the travel industry. Due to limit the spread of corona virus, there are restrictions to travel from one place to another. The biggest impact has happened on airlines where the flights have been cancelled completely and also for many holidays and trips have been cancelled to stay safe. Hotels are off, trips are cancelled, flights are cancelled and many other which is going to have a huge impact on economy.
Another biggest corona effect that has happened is on the trade market. Where government has imposed many restrictions to stop the spread of awareness, one such is on travel. Due to this the trade happening between many countries have decreased or completely stopped. The export and imports are completely down which had left a huge effect on the economy.
Another huge effect of corona was on unemployment where it is very important is stay at home and quarantine your self so that you stay safe most of labors and daily wage workers are in short of money where they don’t money to buy food for them, don’t have rent to pay and many other problems due to which many of them are facing problems. Also, many middlemen are also with normal earnings are facing many issues.
There is a corona effect in all the fields be it any profession or kind of work you have been performing but these are the biggest impact of COVID-19 on the economy all across the world.
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