The stock markets around the world are notoriously sensitive to even the smallest events. So, when the world suddenly finds itself talking about something like the coronavirus, it’s not surprising that there has been a reaction. In particular, it’s the speed with which the condition has progressed from being unheard of to the lead story on news bulletins which has brought it to the attention of the world.
With new cases being reported each day, it wouldn’t seem that this is a story that’s just going to fade away, either. And this is a concern for one industry in particular, as well as a second that relies heavily on the former.
Naturally, the first of these is the travel industry, particularly in the far east. Travel restrictions initially only concerned the Wuhan region of China where the virus is believed to have originated, but others have subsequently been imposed by countries like Indonesia. In addition, worried travellers cancelling or changing plans have had an effect on the industry.
Among the travel firms affected, have been China Eastern Airlines, Delta, and American Airlines; who have seen their stock market values fall by up to 7%. Other companies who have seen their values fall include Royal Caribbean Cruises, Expedia.com, and even TripAdvisor. The fact that a Japanese ship has been identified as having ten affected passengers onboard hasn’t helped much either.
Turning to the casino industry, while Las Vegas was, for decades, the undisputed world capital for gambling, this title has, arguably, now been claimed by Macau. Along with the online sector, which sees many new sites consistently providing innovative content, Macau has been one of the most remarkable success stories in the casino world in the last couple of decades. So, the request by the Chinese authorities that it closes for a couple of weeks will definitely have some fairly major repercussions.
