Coronavirus economics: the financial calamity behind COVID-19
By Dan Hadley AS AUSTRALIANS ARGUE AND FIGHT in shopping aisles over packets of toilet paper, other nations have focused on more serious matters in regard to COVID-19. Loosely referred to as ‘coronavirus’, the pandemic has spread to almost every country according to the World Health Organization (WHO). Originating in Wuhan, China, it seems the virus will inevitably reach every corner of the world. At the time of publishing this article, the coronavirus has officially infected nearly 170,000 people globally and killed over 6,500. In the face of government controls, lockdowns, isolate on and blockades, markets and economies have met a calamity that may have a fallout greater than the 2009 Global Financial Crisi Markets falling… Shares across all markets have taken a dive in the wake of WHO announcements and ever-growing statistical reports of coronavirus spreading. The Dow Jones has taken a 9.5 percent hit over two months since January 2020 with the Nikkei down 10.6 per...