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Coronavirus hurts the Italian stock exchange and Apple shares

The good news on the growing number of healings has not been enough, for now, to relieve negative financial markets: the effects of Coronavirus are felt on Apple stocks which in the past few hours have lost more than 5%, as has happened to the MIB index of Piazza Affari in Italy. Same fate for the share prices of the main giants of US technology.

At the reopening of Monday, the MIB index was the worst in Europe, marking a loss of over 5%. On Tuesday 25 February, Piazza Affari attempted a rebound, but concerns returned to dominate the scene, leading to a further drop of 1.5%. To worry more about the spread of the epidemic outside China, with the increase in cases of infected people detected in Iran, Italy, South Korea, as well as in Russia, the Middle East, finally the USA and Canada.

Coronavirus hurts the Italian stock exchange and Apple shares

Being the largest technology company, the effect of Coronavirus on Apple shares has resulted in a loss of over 60 billion dollars in market capitalization, an index that is obtained by multiplying the total number of shares in circulation by the current quote. The value burned in a few hours, as Bloomberg points out, also affects the other giants of US technology: Microsoft leaves 60 billion dollars of capitalization on the ground, Alphabet (Google) 40 billion, Facebook 25 billion dollars.

Compared to the total blockade in China in the past few days, Apple has reopened more than half of its stores in the country, while Foxconn and the other major manufacturers are trying to speed up the recovery of production activities. Compared to the total blockade in China in the past few days, Apple has reopened more than half of its stores in the country, while Foxconn and the other major manufacturers are trying to speed up the recovery of production activities. According to an analyst, the return to full capacity of the Apple supply chain at best will only occur in the first days of April, instead in the worst case scenario problems and delays will drag on much longer over time

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