Monmi Barua

Corona Virus, the deadliest disease that has hit mankind have left the world crumbing down. It has brought an unending trail of turmoil and suffering to all. While the world has faced number of financial crises from time to time, global recession of 2008 being one of them, nothing can be compared to the corona virus pandemic. People have lost jobs, families have been destroyed, nations are struggling to survive while the clouds of uncertainty looms large over us all. With the world going to a perpetual shut down, small and big businesses have taken the worst hit. Industries like the tourism, hospitality and hospitality have been impacted adversely. The consumer confidence has been shaken turning them wary of any additional spend. This has meant a death blow to the small and medium entrepreneurs forcing many to shut down business, leading to the additional problem of unemployment. Production has halted, shelf life of products has increased, and the pall of an economic downfall seems likely with the advent of a second wave of the corona virus. Economic activities like travelling, consumption and leisure have slowed down drastically. The sudden and unwarned pandemic has brought unprecedented loss in the global stock market. The pandemic has plunged the stock market into a quagmire of uncertainty, something for which nobody was ready for. No event in human history has had such a detrimental effect on the world economy as the effects of the corona virus. With the economy coming to a standstill, many of the business houses have lost millions of dollars whilst trying to keep afloat in these uncertain times. Prices of stocks has hit the nadir; shares have plummeted, and the stock market is in the abyss of a dark period of uncertainty. The oil war between Russia and Saudi Arabia perfectly timing with the corona times has toppled the shares in the stock market considerably. The price of the oil losing value per barrel and almost every economic sector being hard hit, it has become next to impossible to keep the stock market steady. The pandemic has initiated a chain reaction in global supply chains, labor market, consumer consumption. Although the government has intervened to revive the global markets, the road to recovery is still very far away. The federal government has undertaken several measures to boost the liquidity in the system and extending moratorium, but it does not seem to be enough to revive the economy to its prior glory. With the lack of steady capital inflows, emerging markets with limited scope continue to suffer. At this time, it is hard to predict the road to recovery and speaking of revival sounds overoptimistic, but researchers have indicated that the stock market is slowly clobbering up its path to recovery. Stocks markets are interlinked and interdependent. Any sign of recovery in The NY stock exchange, London Stock Exchange, NASDAQ, Hong Kong Stock Exchange etc. will release an effect of Mexican wave all through the world stock market. Not being overly pessimistic, situation does not seem to change much until a corona virus is not in the offing.