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S&P lowers India’s growth forecast to 5.2% for 2020 amid Covid-19 pandemic
An enormous first-quarter shock in China, shutdowns across the US and Europe, and local virus transmission guarantees a deep recession across Asia-Pacific, said Shaun Roache, chief Asia-Pacific economist at S&P Global Ratings.
Trump ‘going big’ with $1 trillion stimulus as U.S. coronavirus deaths top 100
The Trump administration is also considering a plan to send checks to individual Americans of $1,000 to help them weather the crisis, though details remain unclear.
Global powers throw cash at spiralling coronavirus crisis
But while the main aim is to avoid deaths – currently at nearly 7,500 – global powers were also focussing their attention on how to limit the inevitably devastating economic impact.
Global stocks drop as investors shun risk on coronavirus fears
In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.3%, led by a 4.9% fall in Australia while Japan’s Nikkei gained 1.6%.
British insurers suspend sale of Travel Insurance to new customers
“The ongoing global situation with coronavirus means there’s much greater likelihood of disruption to people’s travel plans, so we’ve decided to focus our attention on our existing customers,” Aviva said.
All private laboratories to offer Covid-19 diagnosis free of cost:ICMR
Coronavirus extended its footprint in India with Karnataka and Noida reporting two more cases each on Tuesday, taking the total count to 137. A 64-year-old patient died in Mumbai.
Investor wealth tumbles Rs 9.74 trillion in two days as markets plunge
“The Indian markets continued to plummet on Tuesday tracking weak global cues. The markets across the globe are witnessing high volatility and the recent stimulus measures have failed to assuage the investor fears.
“On the domestic front, the markets will continue to follow the global cues and therefore further downside cannot be ruled out in the near-term,” according to Ajit Mishra, VP – Research, Religare Broking Ltd.
Coronavirus: India could be next virus hotspot with an ‘avalanche’ of cases
Apart from its sheer size, India’s other challenge is the density of its population: 420 people live on each square kilometer (about 0.4 of a square mile), compared with 148 per square kilometer in China. Its cities are crammed with slums and low-income housing clusters where the living conditions are tight.
Most British companies don’t have insurance for Coronavirus closures: ABI
“Irrespective of whether or not the government orders closure of a business, the vast majority of firms won’t have purchased cover that will enable them to claim on their insurance to compensate for their business being closed by the coronavirus,” the trade body said.
Nifty, Sensex dive as Fed rate cut fails to calm coronavirus fears
At the end of the trading hours, Sensex nosedived 2,713 pts today, wiping off Rs 7.5L crore in equity wealth.