Question

Economic impact of COVID-19.

How COVID-19 is affection the economic. How the market is position in relation of the reccesion.

Answer 1

COVID-19 is just not impacting the business and employment in the world but it will be affecting the political and social changes. Despite strong measures taken by the governments of the countries on social distancing, lockdown, financial help, it will be having the long-lasting impact of recession for years to come.
Till the time there is some medicine or vaccine is developed and this crisis is solved, economists can't even predict how long will the recession last. IT people are losing their jobs, companies are laying off employees, governments have cut salaries for all the employees, the unemployment rate began to rise again. It will be having a worse effect than the 2008 recession.

"The analysis by the UN Department of Economic and Social Affairs (DESA) said the COVID-19 pandemic is disrupting global supply chains and international trade. With nearly 100 countries closing national borders during the past month, the movement of people and tourism flows have come to a screeching halt."
Dow Jones Industrial Average took the deepest downturn since 1987 amid the Coronavirus pandemic. Countries are now moving towards the recession, given the scales of business and commerce shutting down. Only essential services are being provided, all other industries are closed and affecting the economy on a large scale. The financial markets are reacting to these shocks and will remain to be extra volatile for a significant period of time.