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The Effects Of Coronavirus Impact Global Economy; Stocks Linked To Commodities Like Petrobras And Vale Lost Billions In Market Value.
Together, Vale and Petrobras have already lost R$ 30 billion since the opening of the trading session at 10 a.m. this Monday. The loss is due to uncertainties regarding the impact of the spread of the coronavirus in China and the global economy. Many Offshore Job Openings In Macaé By The Oil And Gas Multinational Weatherford On This Day, January 27
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The Effects Of Coronavirus Impact Global Economy. Stocks Of Commodity-Linked Companies Listed On The Ibovespa (Benchmark Index Of The São Paulo Stock Exchange) Such As Petrobras And Vale Lost Billions In Market Value.
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Vale, which counts China as one of its main buyers of iron ore, has already lost R$ 15.2 billion. Petrobras, in turn, has recorded losses of R$ 14.5 billion.
Other commodity companies are experiencing significant declines today. Gerdau PN is down 7.15%, Usiminas PNA (-6.28%), and Gerdau Metalúrgica PN (-6.17%).
This Monday, the World Health Organization (WHO) corrected its assessment regarding the coronavirus. Now, the international organization believes that the risk of the disease is high for both China and the world.
The market is starting to question how the disease might affect the growth capacity of China and the world.
Much of this fear arises from the future measures that Beijing could adopt to contain the virus. So far, it has already suspended New Year celebrations, extended the holiday, and closed cities where the virus is spreading:
The concern about potential port and airport closures, which would consequently disrupt the overall economy, is what worries the market.
Since the beginning of the coronavirus notifications on January 3rd of this year, Vale has accumulated a loss of R$ 16.3 billion. Petrobras has R$ 26.8 billion in losses.
