Taking Stock of COVID-19’s Impact

Taking+Stock+of+COVID-19%27s+Impact

Reed Morton, Writer

The Coronavirus outbreak started in Wuhan China in late December. It is a ruthless virus that disguises itself as the common cold. Covid 19 has been shaking the economies of the world for almost 4 months. The virus has now reached the United States and has been steadily impacting us for the past few weeks. It has caused a major impact on our lives — our health, our jobs, our social lives, and the stock market.

The Coronavirus has had a tremendously negative effect on the U.S and the global economy. It initially hit hard with the stock market. Investors have been on a roller coaster ride ever since. The market has continuously dipped into severe lows and occasional brief rises. New, record lows have occurred. 

Companies in the hospitality industry such as hotels, rentals, travel industry, including cruise lines, and restaurants have been hit the hardest. Large companies all the way down to local restaurant chains are feeling the repercussions as people’s habits have changed.

What effect does the record-low stock market have on the investor? The effect depends on their reaction. Experts recommend being patient and not selling to prevent permanent losses. As the virus lessens the effect on the population at large, the stock market could regain value and the longterm profit could increase. The one message that has been consistent when dealing with Covid 19 is not to panic. 

Do not panic for your physical health. Stay home. Do not panic for your financial health. Stay put. Do not panic with your preparedness. Stay reasonable. In these uncertain times, we need to work together.

As Abraham Lincoln said, “A House Divided against itself cannot Stand”.