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China Coronavirus causing major panic in stock markets

The news of the virus in China having the ability to spread among humans has caused a major stir in the financial markets and has also raised the concern that it is going to stop the rise of the economy which had only just begun to regain its momentum.

The authorities of health all over the region of Asia have stepped their surveillance and other measures of precaution up for preventing a repeat in the disruptions as well as deaths which had happened in the crisis of 2003 due to SARS and had caused a loss of $40 billion-$50 billion form the reduction in spending and travelling

The first of the cases of what has now been identified as a new coronavirus had been linked to the market of seafood in Wuhan as it suggested a transmission of animals to humans but it is also being thought that it may spread among humans too from humans themselves.

There are 440 people who had been affected by this disease out of which nine had succumbed to it and died. The illness can result in the causing of pneumonia and few other symptoms related to respiration.

A financial market retreat this Tuesday had been followed up by a rebound which took place in the markets of Europe and Asia on this Wednesday.

The virus though does not seem to be as dangerous as SARS was the most important impact it could have is going to be ahead of the travel season in the region which is not too far away with the Lunar New year being celebrated soon and the virus may hamper travel during that time.

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