Five Companies that Got Affected by the Coronavirus Outbreak

Written by Josefine Fokuhl

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March 5, 2020

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Carnival Corp. (NYSE/LSE: CCL)

Carnival Corporation & Plc, is a large leisure travel company, operating in North America, Australia, Europe and Asia.

Parked at a dock just of Japan, a cruise ship owned by the Company was quarantined for weeks, after one of its former passengers got tested positive for coronavirus.

Royal Caribbean Cruises (NYSE: RCL)

But Carnival is by far not the only travel company affected by the coronavirus outbreak.

Royal Caribbean Cruises Ltd. is also a global cruise vacation company, operating on all seven continents and had to face customer fears amid the virus outbreak.

As people avoid cruises and traveling in and around Asia in general, the Company’s stock is down by 17%.

Wynn Resorts (NASDAQ: WYNN)

Wynn Resorts, Limited, part of the S&P 500 Index, owns and operates Wynn Las Vegas, Encore Boston Harbor, Wynn Macau and Wynn Palace, Cotai.

The gambling Giant’s business is mostly affected due to its core business in China’s Macao territory, which was shut down by the government in February.

Euronav (NYSE: EURN)

Another sector that got hit by the virus outbreak is the shipping sector. The slowdown in China’s economy and worldwide safety precautions, including quarantines of whole cities and regions, causes less activity and a decreasing demand for goods and services.

Euronav (NYSE: EURN) is an international shipping company, with the main focus on transporting oil by sea, which now has to cope with plunging oil prices and investor’s selloffs of the shipping industry.

Post Tags : CCL, Coronavirus Update, COVID-19, economics, EURN, finance, Finance News, INO, Investing News, investments, Market News, NYSE, RCL, S&P500, stock market, WYNN, YUMC

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Written by Josefine Fokuhl

March 5, 2020

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