A man wearing protective mask uses his phone as he walks on a pedestrian bridge, following the outbreak of the new coronavirus in China, in Jakartabut that doesn't mean they won't be substantial, according to Goldman Sachs.
Zach Pandl, a Goldman analyst, wrote that the number of missed work days in China will be roughly equivalent to "the entire US workforce taking an unplanned break for two months." Fear returned to US equities Thursday as China announced a whopping 15,000 additional cases of coronavirus overnight. That's according to Goldman Sachs analyst Zach Pandl, who wrote in a Thursday note that the hit to first-quarter global growth as a result of coronavirus will be 10 times larger than a major US hurricane.
"Although ultimately temporary, uncertainty about the economic effects of the outbreak will remain high for some time," Pandl wrote, adding: "It's important to stress just how large of a disruption to business activity the virus has caused." Exacerbating uncertainty is a data calendar not set to release new macroeconomic numbers until the end of next week, Pandl wrote, adding that some important Chinese data will not hit until mid-March. That spells risk for markets this quarter, especially considering high valuations in equities.
o ffs.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus theater closures cost China movie business over $1 billion - Business InsiderTicket revenue in China over the last 20 days is under $4 million. It was more than $1.5 billion in the same timespan last year.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Passengers on Carnival-owned ship trapped due to coronavirus fears - Business InsiderMore than 2,000 people have been trapped on a Carnival-owned ship for a week due to fears that its passengers might have the coronavirus
Source: BusinessInsider - 🏆 729. / 51 Read more »
Coronavirus outbreak left many stranded at home, some without pay - Business InsiderThe coronavirus outbreak has upended office life in Asia, as many work from home or undergo temperature checks while others fear losing their jobs
Source: BusinessInsider - 🏆 729. / 51 Read more »
The world's biggest smartphone conference was just canceled due to coronavirus concerns - Business InsiderMobile World Congress, or MWC, was previously going to proceed because there were still 2,800 exhibitors. Now, it's being canceled entirely. They should just host the event on mobile There is no need in that conference. All who say about internet, are crooks. They acquired that e-commerce and system by spying and implemented illegally. Conference for crooks? I do not think it is for Spain. Just now cancel this? Uh, news flash, this virus has been spreading in most countries in Europe for a month now, with people cancelling events and flights, it just dawned on these people? Rock dwellers.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Photo of traders in China working with masks amid coronavirus spread - Business InsiderClose to 100 traders at a flower auction in China were seen working while wearing masks to protect against the spread of the coronavirus.
Source: BusinessInsider - 🏆 729. / 51 Read more »