The economic toll of the coronavirus – from iPhones to solar panels to tourism

-COVID-19 has potentially serious implications for the global economy.

-Apple revised its revenue guidance, due to a slowdown at manufacturing sites in China as well as reduced demand by Chinese consumers.

-The spreading coronavirus is taking a toll on economic players around the world, from farmers and ranchers in the Americas to manufacturers of solar panels in India to tourism workers across Asia.

 
For many people outside of China – not least the sizeable number who have a retirement account that includes Apple stock – the impact of COVID-19 got a lot more tangible when the iPhone maker had to revise its revenue guidance earlier this week as a result of the spreading coronavirus.

While much of the world’s attention is rightly focused on the human toll of COVID-19 – including the 1,873 deaths reported as of 18 February – the economic toll of the outbreak also has potentially disastrous implications.

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