Coronavirus Impacting Stock Markets

Coronavirus: Impacting the Stock Markets and Major Companies

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The Historical Stock Market Rout

Since coronavirus has been declared a pandemic, the fears about the disease have only grown. The stock market is experiencing a massive downfall and the shares of many of the world’s biggest tech companies have fallen by a considerable amount. In the United States, as investors reacted negatively to the ban on travel to and from most of Europe, the stock market is getting largely affected. The NASDAQ composite index, which includes the shares of many of the world’s biggest tech companies, also fell by 9.4%.

Among the big companies, Apple fell by 10% a share to close at $248.23 a share, while Tesla fell by 11,6% to finish at $560.55 a share. Facebook fell by 9.8% to close at $154.47 and Intel fell by almost 12% to drop to $45.54 a share. The shares of Twitter also dropped by 14% to close at $26.78. Furthermore, HP fell by 9.6% to close at $17.51, Netflix dropped by 10% to finish at $315.25 a share.

Biggest one-day Fall for Sensex in India

With the rapid spread of coronavirus across India, the Indian stock market is no exception to this downfall. The Sensex on Thursday fell by 2919 points to 32,778 which is its biggest one-day fall in absolute terms. Moreover, Nifty also fell by 868 points to 9590. Nifty PSU Bank index fell by 13.16% while Nifty media tanked 10.12%. The Nifty Metal index fell 9.38% and the Nifty Auto index dropped by 8.15% to close at record lows.

In the Industrial sector, Reliance’s shares fell by 7.9% to close at Rs.1061.6. Shares of TCS fell 9.3% to close at Rs.1769.8. HDFC Bank lost 8.2% shares ending at Rs.1021.7 while Bharti Airtel’s shares fell by 5.8% to end on Rs. 464.95. Out of the top 10 companies, SBI experienced the biggest impact as its shares fell by 13.2 % to end at Rs. 212.75.

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West has been driving the business world owing to its developed economies. The leading part of the world is straining to sustain its dominance. However, the other parts of the world, especially Asia Pacific region have been displaying escalating growth in terms of business and technological advancements.

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