Fear of global recession due to Corona's havoc has seen a huge decline in the stock markets around the world. With this, the Asian stock market saw a huge drop in early trade on Friday. At the same time, the Asian stock market has had the worst day of the decade in view of the fear of recession after the corona virus was declared an epidemic. At the same time, Japan's Nikkei market fell 7.12 percent i.e. 1,322.15 points to 17,237.48 soon after it opened. Along with this, Topix was also seen trading at a level of 1,244.15 with a fall of 6.31 per cent.

Condition of foreign market

Australia's ASX broke down by 7.3 per cent and New Zealand's benchmark NZX 50 of 7.9 per cent. The business was briefly halted after South Korea's benchmark KOSPI slipped 6.8 per cent. This situation of Asian markets was seen after the tremendous decline in other global markets. Apart from this, the Dow Jones of America recorded a decline of 10 per cent and fell 2,350 points to 21,200.62. This was the worst Dow Jones session since 1987, while SGX Nifty was down by 6.23 percent and SGX Nifty was trading 6.33 percent or 600 points down at 8,879 at the Singapore Exchange. This indicates that there may be a sharp fall in the Indian stock market on Friday as well.

Fear of recession due to coronavirus

The travel industry has been the most affected due to the corona virus. At the same time, people are canceling their trips on a large scale. Sports events are also being canceled and museums to Disney theme parks are being closed around the world. Cinema halls, schools and colleges have been closed as a precautionary measure in Delhi. Along with this, the crisis of corona virus has increased the possibility of global recession. It is also uncertain how bad the economic decline can be. At the same time, Stephen Inns, Chief Market Strategist of AxiCorp, wrote, "Within a few weeks, the markets are seen moving from this health problem to the global recession."

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