Coronavirus and Business – level 3
The past week was the worst that the markets have seen in more than 11 years. The Dow Jones lost 357 points on Friday and more than 3,500 points all week.
It was the largest weekly point loss ever, and the biggest loss since October 2008 during the global financial crisis.
Economic experts blame mostly the coronavirus. They say that the coronavirus is hurting businesses, shopping centers, and tourism. Global markets in Japan, Italy, and Germany have all experienced similar drops.
Officials say that there will probably be an increase in coronavirus cases in the US. On Friday, the World Health Organization raised the global risk of the virus to its highest level. However, Trump administration officials said on Wednesday that the risk to the American public is low.
Difficult words: The Dow Jones (an index or a special list that tracks 30 large companies that trade on the New York Stock Exchange), point (a special number that tracks how much value a company has on the New York Stock Exchange), drop (to fall).
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