News Formal

Luxury stocks lose billions in value amid coronavirus fears - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 10 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 51%

Indonesia Berita Berita

Indonesia Berita Terbaru,Indonesia Berita utama

Luxury retailers have lost billions in value as a result of coronavirus-outbreak fears. Many aren't sure what the full impact will be.

the Lunar New Year to end on February 3 to keep businesses closed for longer because of the outbreak. When stocks reopened on February 3, the Shanghai Composite Index fell 7.7%, and the Shenzhen Component Index fell nearly 8.5%. It was the worst day for Chinese stocks since Black Monday in August 2015. Nearly $445 billion in market value was wiped out.Luxury retailers reported mass store closings and millions in revenue shortfalls as a result of the disruption.

The last time China faced such a major outbreak was in 2003 with SARS, but spending from Chinese nationals accounted for only 2% of the global luxury-goods market at that point.

 

Terima kasih atas komentar Anda. Komentar Anda akan dipublikasikan setelah ditinjau.

Maybe if luxury brands didn't rely on Asian slave markets they wouldn't have been so vulnerable to human suffering

No value of money matters in comparison to this virus luxury won't cure the virus that's like saying the profit out weights the life of a human being which it doesn't if I stand correct.

Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:

 /  🏆 729. in İD

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Walmart breaks down how the coronavirus has hit its $10 billion business in China - Business Insider'Our primary focus is of course on our associates and our customers,' Walmart CEO Doug McMillon told investors.
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »

Fund managers' growth expectations falter amid coronavirus headlines - Business InsiderFund managers slashed their expectations for global growth in February for the first time in months. A familiar culprit is to blame: coronavirus.
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »

Their market shut, traders in China's Silicon Valley do business from bagsWhile coronavirus fears curtail much of China’s bustle, traders in the country's Silicon Valley are getting back to business, buying and selling from bags and suitcases on the streets outside their shut premises by DavidKirton_ : the
Sumber: Reuters - 🏆 2. / 97 Baca lebih lajut »