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Coronavirus: Technological giants plummet into the stock market amid fears of a pandemic

The increase in the number of infections by Coronavirus (COVID-19) and the fear that the outbreak will become a pandemic is causing chaos on world stock exchanges. The technology sector is suffering the impact, reflecting investors' fears, and the share of the technological giants in the market is falling "down sharply".

The latest data from Statista shows that the top five US technology companies recorded significant losses earlier in the week. At the close of the markets on February 24, Apple, Amazon, Microsoft, Facebook and Alphabet all lost $ 237 billion, each of which saw its share price drop by more than 4%.

Losses of the five largest US technological companies on the stock exchange credits: Statista

Apple was the most affected company, having closed the session in the red with less than 65 billion dollars. Analysts predict that the apple company will be the US technological giant that will suffer the most in a scenario where a pandemic is confirmed, since China plays an important role in its production chain. In addition, a large part of its revenue comes from the Chinese market.

It is recalled that the outbreak of COVID-19 could affect the production of the new iPad Pro and cause a delay in its launch. Apple even closed the doors of its stores in China, but all the company's logistics have been affected. Although the factories have resumed operations, they are far from operating at 100%.

COVID-19 is having a strong negative impact on the technology world. The outbreak that has already infected more than 80 thousand people and caused, to date, about 2,763 dead has led to the cancellation of the 2020 edition of Mobile World Congress and Facebook's Global Markiting Summit, which could also cause difficulties in the distribution of Nintendo systems. Switch. More recently, the virus led to the closure of Samsung's South Korean factory, something that could affect the distribution of its equipment in the country.