The spread of Coronavirus from China has led to the loss of many lives. But what exactly is Coronavirus? The virus was identified by the World Health Organization in China on 31st Dec. There were several cases of Pneumonia that raised concern. The virus was new and therefore it was not known how will it affect people.
Coronaviruses are a type of virus that causes upper respiratory infections. The symptoms may include but are not limited to a runny nose, sore throat, and cough. The coronaviruses are often transmitted through sneezing or coughing of an infected person, which is very similar to the way, almost all cold-causing viruses spread.
Coronaviruses are a family of common cold-causing viruses, the new virus has been named 2019-nCoV by the WHO. It originated in Wuhan city in China. Traffic has been banned in the city as a precautionary measure. People are trapped in their homes. Foreign residents have evacuated the city. There have been almost 8000 cases as of now with the death toll crossing 200.
Despite all the measures, the virus is spreading very rapidly in Asian countries including some parts of Europe and America. There have been over eight positive cases of the Novel Corona Virus in Malaysia only. WHO has released some precautionary measures which can protect you from the virus.
• Using an alcohol-based hand sanitizer or hand rub to clean hands frequently.
• Strictly avoid close contact with anyone who is infected with a cough and cold or is having a fever.
• Avoid contact with live animals and all surfaces which are in contact with live animals. In case of any contact, immediately wash your hands with sanitizer.
• Consumption of undercooked and raw animal products is to be avoided.
• If by any chance, you have trouble breathing or fever and cough, seek medical care immediately.
• Dispose of tissues in a closed dust bin immediately after being used by any coughing or sneezing person.
• When traveling, avoid touching your eyes, mouth, and nose.
The virus is spreading at a very rapid rate throughout the world and it is necessary to take preventions to stay safe. Since the virus is new, there is no proper cure for the patients.
The coronavirus has affected the markets too. The Malaysian palm oil futures have dropped 7% which is the biggest intraday drop in 7 years. The sudden decline in imports from the second-largest importer China appears to be the reason behind this drop. The virus is affecting the trade between countries on a very large scale. The market has experienced a big hit from the Coronavirus.
You should stay safe and so should your investments. Considering the current market conditions, the risk in the market has increased. It is necessary to manage your investments and portfolio accordingly. It is recommended to take advice from a certified investment advisor to help manage your investments from the indirect effect of the Corona Virus. However, the market is expected to move high sharply once the threat passes by.
Prevention is always better than cure therefore, it is suggested that you should take the necessary precautions for yourself as well as your investments.
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