ECLAC cuts Latin America growth forecast amid global uncertainties
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The main index of the Warsaw Stock Exchange, WIG, fell 4.29% on February 27 amidst worldwide fears of a further spread of coronavirus, a highly infectious flu-like illness that originated in China.
The WSE was just one of many stock exchanges suffering a deep correction on Thursday, with DAX and CAC both falling over 3% and Dow Jones retreating more than 4%.
In Warsaw, a staggering 75% of listed companies saw their stocks lose value, as investors panicked over the impact of the epidemic, which, some analysts claim, could soon hit global supply chains if governments move on to implementing measures to curb travel.
Poland is yet to officially confirm any coronavirus cases. The country’s health ministry said on February 27 there were 47 people in hospitals across the country suspected of a coronavirus infection while 55 others were put in home quarantine.
“There are no confirmed coronavirus cases in Poland at the moment,” Poland’s Health Minister Lukasz Szumowski told a press conference in Warsaw. “But it is only a matter of days when they will appear,” he added.
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