As fear surrounding the coronavirus grows, so too does the virus’s economic impact.
While the disease has only just reached Oregon yesterday with one confirmed case, its negative effects on business are already being felt. Oregon-based companies which deal internationally, such as Columbia, Intel, and Flir, are already seeing a decline in their stock value.
In an interview with Fox 12, PSU professor of economics Hiro Ito said, “The coronavirus has been creating a lot of anxieties. This issue started in the second largest economy in the world, and now is starting to spread to other parts of the world. So, this issue is going to be quite big.”
“If the virus spreads, like what’s been going on in China, South Korea and Japan,” continued Ito, “then investors may start thinking even the U.S. markets are not so safe.”
Ito also said that the virus’s negative impact on business is one of the drawbacks of globalization, but that the U.S. is one of the safer investments for the time being.
By Thomas Nguyen
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