What is COVID-19 and how has it impacted the tech businesses around the world?

Coronavirus has been declared a pandemic, and the world has been affected due to this outbreak. This article is about what is a coronavirus and how it has impacted the tech industry around the world.

Coronavirus, also known as COVID-19, is an infectious disease caused by a new virus, which is mainly found in bats. This coronavirus is so deadly that it has been declared a pandemic by the World Health Organisation.

COVID – 19 has affected every continent except Antarctica, with around 84 countries fighting with coronavirus. Coronavirus is a respiratory illness with several symptoms, which includes cold, cough, fever, and in more severe cases, difficulty in breathing is also a symptom.

 

Facts:

  • A pandemic is a situation where a thing or a disease is prevalent over the whole world and has affected people around the world.
  • There have been around 722,136 cases around the world, with the number increasing with each passing day.

 

How Tech markets have been impacted?

The tech markets around the world have been affected severely, with many teach industries and websites running in losses. As the government around the world has announced lockdown and the industries have allowed all the employees to work from home, there has been a rise in cost. 

The various tech industry that has been impacted are as follows.

  • Stock exchange websites
  • Cryptocurrency aggregators
  • Job and internship search portals

 

Cryptocurrency Aggregators

Cryptocurrency aggregators are the websites that tell us about the cryptocurrency and which keeps us updated on the latest news about it. A Crypto news aggregator says how responsive and active various cryptocurrencies are.

There are various cryptocurrency aggregators, and they have all been impacted severely due to coronavirus. Bitcoin is at its lowest since 2017, and investors are losing faith in it. These facts have severely affected the cryptocurrency aggregators’ business.

 

Stock Exchange websites

Stock Exchange websites are the platform that provides information about the prices of stock of various companies listed on the stock exchange. Dow Jones is one such one stock market index that measures the performance of 30 large companies in the United States.

The stock indexes such as Dow Jones are getting weakened due to the following reasons.

  • The economy is in a state of recession due to the coronavirus crisis.
  • The investors fear that they will lose their money, and due to which stock indices are showing losses.

 

Job and internship search portals

Job and internship search portals such as Internshala, naukri.com, and Hiredd have seen a surge in work in the home job search. These portals, such as Internshala, have also seen a massive demand for work from home internships with students wanting to gain experience during the lockdown.

Job and internships search portals such as Internshala and Hiredd are also seeing some difficulty in managing their business as their employees are also working from home. They are coming out of several ways so that they can handle the increase in demand.

Srishti Garg
Srishti Garg
Srishti is currently studying in University of Delhi and developed love for reading since childhood. A lot of introspection has made her realise that she is passionate about writing.

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