The coronavirus situation in the US is deteriorating sounding more bad news for the US markets, which in turn will also impact the Indian markets, Zee Business Managing Editor Anil Singhvi said. He added that the existing situation points to a lot of discomfort in the US markets, which may not allow them to gain any momentum.
Curiously, the global markets, including Indian markets, saw a rally in the last 3-4 trading sessions without any visible triggers.
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जारी है कोरोना का कोहराम, अनिल सिंघवी की राय- वायरस की वैक्सीन आने पर ही खत्म होगा डर, बाजार में अब सावधानी के साथ लें ट्रेड
— Zee Business (@ZeeBusiness) March 30, 2020
Anil Singhvi said that, while on the one hand there was a coronavirus factor playing on the markets, on the other hand, steps were being taken by the Reserve bank of India (RBI) and the government to arrest the fall.
An investor will have to do a balancing act between the two, he said and added that while the stimulus has already come, the coronavirus situation is a dynamic and changing every minute.
Until the coronavirus vaccine comes in the market, things will not improve significantly, he revealed.
The Coronavirus pandemic is growing rapidly and is creating a major panic situation across the world. The threat has now started traumatising people affecting their state of mind. The recent death of a German minister is the case-in-point.
The state finance minister of Germany’s Hesse region Thomas Schaefer was found dead on railway tracks near Frankfurt. It looked like a suicide, the German authorities have said.
The US and Italy have been the worst affected countries with more than 1 lakh coronavirus cases reported. Italy has seen over 10000 deaths till now. In US, 2484 people have lost lives. Spain is another European country to have been hugely impacted with over 80000 case. Over 6800 people have died in Spain, till now.
The after effects of the pandemic will be huge and last for a long time, Anil Singhvi said.
Schaefer was the finance minister of the province which is a hub for country’s automobile sector. The pandemic will have an impact on the production of the automobiles in the country.
In another news, the chief financial officer of Jefferies Group LLC, Peregrine Broadbent died from coronavirus complications, the company said in a statement Sunday.
UK’s Prime Minister Boris Johnson was also tested positive for the Coronavirus disease.
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In India, the number of cases have been increasing with over 1000 reported cases. The good news is that around 100 people have recovered from it. This is the fourth week for India and it remains crucial for the country as to which way the disease is headed.