KARACHI: WHO’s declaring Coronavirus a Pandemic and USA’s banning travel from Europe have shaken the investors’ confidence letting bears invade the bourse here today.
When within few hours into trading Benchmark KSE-100 index shed 4.30%. the trade was stopped for 45 minutes. It is pertinent to mention here that on Monday 9th of March, 2020 KSE-100 saw its biggest single-day decline in more than then years.
Moreover, Asian equity markets are also deep in the red.
Relevant pieces:
Coronavirus: Travel from Europe to US suspended for 30 days
12th of March, 2020
WASHINGTON: President Trump has suspended all travel from Europe for 30 days in order to stop spread of Coronavirus.
According to details responding to the pressure to take action in-order to contain the mysterious malady, Trump had imposed restrictions to prevent people from 26 European countries from travelling to the US for a month.
The ban does not apply to the American citizens, UK and Ireland.
Coronavirus declared pandemic by WHO
11th of March, 2020
GENEVA: World Health Organisation (WHO) has officially declared coronavirus outbreak as pandemic.
WHO Director General Tedros Adhanom Ghebreyesus, while talking to journalists at a Presser held: “We are deeply concerned both by the alarming levels of spread and severity and by the alarming levels of inaction. We have therefore made the assessment that COVID-19 can be characterized as a pandemic.”
“WHO has been assessing this outbreak around the clock and we are deeply concerned both by the alarming levels of spread and severity, and by the alarming levels of inaction. We have therefore made the assessment that COVID19 can be characterized as a pandemic,” Dr. Tedros.
It is pertinent to mention here that out of 118,000 cases in 114 countries 93 percent were reported from four countries. WHO DG stated: “We are encouraged that Italy is taking aggressive measures to contain its epidemic and we hope that those measures prove effective in the coming days.”
Tedros Adhanom Ghebreyesus told that 4,291 people have died so far with the numbers expected to climb.
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