As more news regarding the coronavirus continues to emerge, governments, individuals and businesses around the world act to implement safety precautions in order to try and limit the spread of the virus.
The Beginning of the Coronavirus
Earlier this month, multiple South-East Asian countries (including Thailand and the Philippines) began enacting monetary policy to try and help mitigate economic impacts the coronavirus began causing. China even instructed multiple brokerages to temporarily limit short-selling in their stock market.
On the other hand, some countries implemented an outright ban on those traveling from the Hubei province in China – believed to be the origin of the virus.
Furthermore, individuals have reportedly been panic buying and clearing shelves in multiple countries, including Hong Kong and the United States.
Face masks in several places have not only been selling out, but have also seen prices skyrocket as some set out to capitalize on the spike in demand.
Businesses of all types ranging from blockchain companies to airlines are acting in order to try and limit the spread of the coronavirus too.
Multiple crypto conferences have been postponed or cancelled, while a number of airlines have temporarily stopped flights going to mainland China. Coinbase, one of the largest and most well-known crypto companies, even released its plan for the continued spread of the virus just days ago.
One of the precautions many companies around the world, including Coinbase, are planning to implement include employees simply working from home for the time being.
The Continued Spread of the Virus in Italy
Most recently, Italy began seeing multiple cases of the coronavirus pop up within its borders. Before long, Italy was the first European country to report a major surge in confirmed cases, currently at over 1,100.
Today, the death toll in Italy due to the virus is now at 34 – and expected to climb.
Due to the global outbreak of the virus, airlines have experienced a fall in demand for tickets, as consumers are limiting their traveling due to the ongoing fears of the virus.
Delta and American airlines recently announced they will be suspending all US flights to Milan after an elevated travel warning was issued (Level 4 – Do not travel).
According to Delta, flights to the fashion and financial capital of Italy are expected to resume in early May.
American Airlines said the halt of flights from New York and Miami to Milan were due to a reduction in demand, with the final flight returning from Milan on Sunday.
As outbreaks of the virus continue, it’s expected that more barriers for traveling will be implemented either due to lack of demand, or to limit the spread of the coronavirus.