Corona virus feared major financial losses

For the first time since January, the number of people infected with the new Corona virus in China has dropped below 2,000. Although the information was released on Tuesday, experts from around the world are warning. It cannot be said immediately that the virus is under control. Meanwhile, the US financial giant Apple has been reportedly damaged due to the outbreak of the Corona virus. They say the iPhone is on the decline.

As a result, Apple’s revenue has been warned to decline. On the other hand, South Korean President Moon Jae-in described the situation as an economic emergency for his country. Three more people have died from the virus.
China’s National Health Commission says the death toll in all is 1868. And the total number of victims is 72,436. The news agency Reuters reported.

It said strict restrictions were imposed on travel and movement. This has made it possible to restrict the spread of the Corona virus within the province of Hubei, China. However, China’s economy and global trade have suffered huge losses.

Apple is the latest in a series of companies that have warned of a loss in revenue due to the Corona virus epidemic. They said they could not follow the first quarter guidelines of this year until March. Because, their iPhone production has dropped. Demand in China has dropped.

The US has opened a new factory in China after closing its factory. But there is work much slower than expected. This will result in a shortage of iPhone. This will have an impact on sales. China is the largest smartphone market in the world. Some analysts say the demand for the headphone set will decrease by half in the first quarter of this year due to the Corona virus.

South Korea’s President Moon Jae-in announced the economic emergency in his country on Tuesday. He promised to take necessary measures to meet the demand and protect the business from the pestilence of the Corona virus. Hong Kong government and business authorities in Hong Kong have discounted 2800 Crore Hong Kong dollars (US $360 Crore) to help curb the Corona virus. Earlier, it was said to give 2500 Hong Kong dollars discount. But it has been raised to $300 Crore.

These measures have been taken after the latest economic data published in Singapore, Japan, the world’s third largest economy country and the heart of the economy. It has raised the prospect of an economic downturn in the next quarter of this year.

Chinese state wealth regulators say the damaging effects of the Corona virus will be visible in February. However, the business can have more detrimental effects.

Source: Internet

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