The 15 General Economical Effects of COVID-19

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Falling stock markets and hard-hit service industries are just some of the economic indicators showing signs of peril from the coronavirus outbreak. It’s an unpredictable situation filled with uncertainties. A virus that keeps us quarantined at home, which could go on for months, is changing the way we engage with our employers, neighbors, and families. While it may seem like a crisis, it also presents different opportunities. Here are 15 general economical effects of COVID-19 that could change our world for the unforeseeable future.

1. Global Recession

falling stock market
Newsweek.com

Whether the coronavirus is going to cause a global recession largely depends on how the virus spreads and how the outbreak is managed by governments. The effects are reverberating through falling stock markets in America, Europe, and Asia. With infection rates rising, the impact remains uncertain.

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