Written by: Marissa B.
The coronavirus (COVID-19) has had a great impact on our daily lives, schooling and work schedules, and many more. What some people may not know, is how big of an impact COVID-19 has actually had on the stock market. The last time the stock market was affected by an illness like this was back in the 1900’s. This was when the Spanish Flu killed approximately 2% of the population. Due to social distancing and many businesses shutting down, the stock market is going down and the economy is falling down with it. Just from December 2019 to January 2020 had a great impact on its own.
The economy has been affected as well. Due to social distancing and us not being able to leave our houses, this has especially affected small local businesses. Some of them have had to even close due to the lack of customers and income. The mandatory quarantine that society has been in for so long, has now been stopped. People are now hanging out with their friends again, and many things are starting to re-open. This could go one of two ways. 1: the illness could die down and we will slowly inch our way back into normal everyday life. 2: the illness will spread to more people since they are not socially distancing anymore and this will be dragged out for even longer. This instance would mean it an even greater impact on the economy. Unfortunately, we are not able to see what the future holds with COVID-19 in the present. Only time will show us what the outcome will be.
Works Cited
“9 Steps to Protect Your Finances against Recession in the Economy.” The Economic Times, 26 Aug. 2019, economictimes.indiatimes.com/wealth/plan/9-steps-to-protect-your-finances-against-recession-in-the-economy/articleshow/70814476.cms?from=mdr.“Covid-19.” New Scientist, www.newscientist.com/term/covid-19/.
“The Effect of COVID-19 on the U.S. Economy.” Foreign Policy Research Institute, www.fpri.org/article/2020/03/the-effect-of-covid-19-on-the-u-s-economy/.
Scott R. BakerAssociate Professor of Finance. “The Unprecedented Stock-Market Reaction to COVID-19.” Kellogg Insight, insight.kellogg.northwestern.edu/article/what-explains-the-unprecedented-stock-market-reaction-to-covid-19.
This is such an interesting topic, I was constantly watching stocks go up and go even further down during this whole thing. Good topic and good explanations.
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It's interesting to consider the impacts outside of health that a health pandemic has. COVID-19 has literally changed every aspect of our day-to-day lives and has had an immense impact on the economy, employment, the stock market, and other things.
ReplyDeleteThis was an interesting topic and allows people to look at the possible outcomes that could come from stopping the quarantine. It is also interesting to look at the effects Covid-19 has on the economy rather then looking at it from a health aspect.
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ReplyDeleteEven though pandemics are mostly something that pertains to health and keeping people safe, people should always realize that many other things will be impacted, such as the economy and the stock market. This article helps people realize that.
ReplyDeleteIt is also interesting to look at the effects Covid-19 has on the economy rather then looking at it from a health aspect. คาสิโนออนไลน์
ReplyDeleteIt is interesting how Covid-19 has impacted our economy. Although the stock market did go down, it did rise back up even though Covid-19 is still around. I find it interesting that even though there are still some businesses closed down by Covid-19, the stock market is still able to rise.
ReplyDeleteI honestly think that Covid will probably start spreading more because everything's opening up again. And while a lot of people choose to believe that everything willgo back to normal, the fact that so many people are going to be around each other again, only heightens the probability of Covid spreading. Plus Covid likes the cold, wet weather, so while in summer people going out was bad, the chances are going to go way up now with the weather turning colder.
ReplyDeleteThere are many ways this could go but unfortunately the situation is unpredictable. Looking out the housing markets, it looks like were are going to have a horrible crash soon. I also like that you pointed out how people personally are affected, because I don't believe everyone realizes that everyone is affected in different ways and right now the economy as a whole is suffering.
ReplyDeleteI think if a vaccine doesn't come out soon during the cold and flu season and with schools in session the stock market and the economy are going to take a few hits.
ReplyDeleteThis is very interesting to look at later on after the majority of quarantining and in the semi-aftermath of this pandemic. The two options that were given as the outcome of this pandemic were not too far off of the actual results, especially from a economical standpoint. Many business, especially small, had suffered from the effects of COVID-19 and the stock market has been going up ever since the drop back when we were in the heat of it all. There were many trade offs due to the effects of quarantining and seeing how it all began was interesting.
ReplyDeleteThe impact that covid-19 has done not to our economy but a lot of other countries. I found it very in interesting that even in these hard there are still some businesses have shut down because of this outbreak. With all of this stock didn't take a very big impact and was a able to rise.
ReplyDeleteI agree with what you, that Covid-19 has not only affected our lives, schools, and schedules but it has also affected the stock market. It is also important to realize that the whole world is being affect by Covid-19. I think in the beginning social distancing and quarantining were a good thing to focus on because the US was trying to minimize the number of cases and fast. But something that some people weren't seeing was the stock market crashing. It is important that you highlighted the money side rather than the health side.
ReplyDeleteThis is obviously a common topic to talk about today, but I think some people kind of forgot about how it's impacting the economy right now. But I think people should take social distancing seriously because the virus is going to spread more and more and then it won't make things any better.
ReplyDeleteI definitely agree with how Covid-19 is affecting not only the lives of other people but also the economy which we need as a country to strive. I believe that your argument on how covid is making our economy go down is valid especially where you bring up two points of which will both affect the economy 1. we keep social distancing to improve the economy or 2. we don't social distance causing the virus to last longer. This helped me realize that in both scenarios, the economy will always be affected one way or another (good and bad).
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