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Weekly Roundups

Stock Markets Plunge as COVID-19 Spreads

By Andrea Villar | Fri, 02/28/2020 - 11:36

Throughout the week, financial markets were attentive to the Coronavirus (COVID-19) development and today, the inevitable happened: the Ministry of Health reported the first confirmed case of the viral disease in Mexico. Following the uncertainty regarding the global contagion, the Index of Prices and Quotations (IPC) of the Mexican Stock Exchange (BMV) plummeted 4.01 percent to 39,939 points on Friday. Meanwhile, BIVA’s FTSE tumbled 3.72 percent to 825.19 points.

In Wall Street, the Dow suffered its worst week since the financial crash of 2008, according to data sourced from Bloomberg. The plunge comes as the US FDA announced it was alerted to the first manufacturing shortage of a drug due to a viral coronavirus outbreak that began in China and has now reached American soil.

In other news, quarterly earnings reports keep coming. Check out the highlights! 

Photo by:  
(Reuters)
Andrea Villar Andrea Villar Journalist and Industry Analyst