Towards Reviewing an Immediate Impact of COVID-19 on the Integrative World Economy

Abstract

The coronavirus (CoV) belongs to Severe Acute Respiratory Syndrome (SARS) species that lead to infection, causing illness, starting from common cold to some serious sickness. Finally, on 11 March 2020, the WHO Director-General Dr. Tedros Adhanom Ghebreyesus announced the outbreak as a pandemic. As the fear and ambiguity rose among companies and firms, the profit rate seemed to be lower due to the Covid-19 global impact, say nearly US$6 trillion in wealth from 24th to 28 February 2020 of the stock market has been wiped out. There was a great decrease in value over the S&P index, which abolished over $5 trillion in the same week. However, the largest ten companies of S&P faced a loss of $1.4 trillion. The investors make an analytical prediction that firms' profits may drop in response to the impact of coronavirus. Our prime focus is on the importance of digital business practices and how different sectors have been affected in terms of economic loss during this pandemic outbreak in this paper.