By The COVID-19 pandemic situation got worse with horrible speed, infecting millions, and brought economic activity to a halt. As countries applied tight restrictions on International movement.
This pandemic gave the largest economic shock to the globe. This hampered the growth, opportunities, and well-settled life for everyone.
- The coronavirus recession is associated with the economic recession which happened across the globe due to pandemic. Global stock markets got their worst crash since 1987.
- After the month of April, the International Labour Organization analyzed that four hundred million people lost their jobs worldwide.
- The Pandemic collapsed the oil demand and there was a crash in oil cost.
- Demand for metals and transport-related commodities like rubber and vehicle components got declined.
- Agriculture markets provide products globally but trade restrictions gifted disturbance across the world and even resulted in food security problems at some places.
- All the start-ups got closed due to the pandemic.
- The automobile business came into crisis.
- Due to pandemic, all the worldwide conferences and events across technology, fashion, and sports are being off or delayed.
- Monetary impact on the travel and trade business is nevertheless to be calculable, approximately it would be within the billions and increasing.
- Possible instability might lead to temporary food shortages, value spikes, and disruption to markets.
What is your reaction?
Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0
