Countries around the world are struggling to keep up with the coronavirus pandemic Global Stock Markets have had a turbulent week with some of the worst losses and i would 30 years so whats the economic fallout and calm a global recession this is inside story. Hello again im james burke says its the worlds Biggest Health emergency the corona Virus Outbreak is now a pandemic and there are fears it could lead to a catastrophic Global Economic crisis sweeping containment measures have disrupted markets around the world including the u. S. A travel ban on 26 European Countries came into effect on friday and the unprecedented move sent stocks crashing to their worst losses in over 30 years on wall street the Dow Jones Industrial average sank 10 percent on thursday its biggest plunge since the black monday crash of 1907 while european markets showed some signs of recovery on friday throughout the week Global Stock Markets saw their steepest decline since the 2008 financial crisis wiping out
A 30 day banned by the u. S. And old flights from europe excluding the u. K. And ireland has just come into effect theyve been reports of long queues at some european airports as people try to beat the deadline President Trump announced the ban on wednesday in a bid to combat the spread of coronavirus he says the e. U. Has been too slow to react to the outbreak and blame travelers from europe for infections in the u. S. Lets go live to rob reynolds hes in los angeles for us now rob so youre there at one of the busiest airports in the u. S. Tell us whats been happening. There and im at the Los Angeles International Airport International terminal of the tom bradley terminal things are fairly busy right now despite the ban having gone into effect just moments ago many of the people that you can see behind me inside the doors of the terminal are lining up for ticket counters at korean air thats not one of the countries yet that has been affected so a lot of people seem to be. For whatever
Year. But youre going to harm me its been over a year since the former cricketer turned politician imran khan became pakistans prime minister. During his campaign mr cohn promised to turn around the countrys economy but the fight to ease inflation has not been an easy one the pakistani rupee lost 35 percent of its value drink on its 1st year in office and despite some encouraging news from the International Monetary fund many are still struggling as a result of the weak economy pakistans location brings a lot of opportunity as well as challenges a lot of hope has been put on its agreement with china to set up an economic corridor but its not clear if the ambitious project will be beneficial to both sides. Relations with the other big neighbor india have been strained in recently. After new delhi revoked the autonomy of indian administered kashmir. Theres also been tension of indias controversial citizenship law that many say discriminates against muslims and islam about will also be lo
A catastrophic Global Economic crisis sweeping containment measures have disrupted markets around the world including the u. S. A travel ban on 26 European Countries came into effect on friday and the unprecedented move sent stocks crashing to their worst losses in over 30 years on wall street the Dow Jones Industrial average sank 10 percent on thursday its biggest plunge since the black monday crash of 1907 wiping out billions across the e. U. And asia pacific the Airline Travel and Hospitality Industries are also expected to be hit the worst and theres been a slowdown in manufacturing particularly in china where the outbreak originated and the crisis has led to all we can demand for oil but it crashed further after a dispute between saudi arabia and russia on prices and production. Well lets bring in our guests to discuss this further in washington d. C. We have pedro de coster hes a Senior Reporter at Market News International joining us on skype from brussels haas circle the marque
Countries around the world are struggling to keep up with the coronavirus pandemic Global Stock Markets have had a turbulent week with some of the worst losses in over 30 years so whats the economic fallout and can a global recession. Story. Hello again im James Burrows its the worlds Biggest Health emergency the corona Virus Outbreak is now a pandemic and there are fears it could lead to a catastrophic Global Economic crisis sweeping containment measures have disrupted markets around the world including the u. S. A travel ban on 26 European Countries came into effect on friday and the unprecedented move sent stocks crashing to their worst losses in over 30 years on wall street the Dow Jones Industrial average sank 10 percent on thursday its biggest plunge since the black monday crash of 1907 while european markets showed some signs of recovery on friday throughout the week Global Stock Markets saw their steepest decline since the 2008 financial crisis wiping out billions across the e.