Virus outbreak spreading
The deadly virus outbreak that is sweeping China may well affect the global economy. China, which is the world’s second-largest economy, has put a lockdown on people entering or exiting two further cities near the epicentre of the virus.
Chinese Lunar New Year
This has certainly dampened consumerism, which usually surrounds the run-up to the Chinese Lunar New Year. And, of course, travel between cities will be greatly curtailed.
So far, there have been 17 deaths as a result of the coronavirus, and this surge in cases has led to a sharp decline in the Shanghai Composite and other Asian markets. The US has now confirmed its first reported case of the virus, and there are possible cases in the UK.
