Meanwhile, the company was subject to “blow-up” rumors that went wild among the financial circle last week.
During a recent interview with CNBC, founder of Bridgewater Ray Dalio admitted that the coronavirus outbreak’s shock on the market had
caught him off-guard. He estimated that the pandemic will inflict US$4
trillion losses on US companies, while global corporate loss due to the
crisis can reach US$12 trillion, more than half of United States’ GDP
last year.
Datuk Michael Kang, the Chair of SME Association of Malaysia, said the spreading coronavirus pandemic will further exasperate the economy. A
shutdown of just 10% of small medium enterprises in Malaysia can make a
million Malaysians lose their jobs.
As Mr. Dalio mentioned, the coronavirus is a crisis that “has not happened in our lifetime before”, leading to an equally unprecedented
global recession that revealed potential risks of US and European
markets as well as vulnerability of Southeast Asian Economies. In such a
time, forex investors need to keep a close eye on market updates, while
remaining alert to scams and potential risks to ensure the safety of
your assets.
As a leading forex media, WikiFX will continue to bring you the latest forex updates round the clock, including reports on economic
events that affect the market, forex economic data, live trend of
currencies, and changes in forex indicators.
