The flu-like new coronavirus has so far killed over a hundred with thousands of people infected. On Wednesday morning British Airways became the first international airline to cancel all flights to and from mainland China. Wuhan, where the outbreak originated, and at least 15 other cities in China are on lockdown to stop the spread.

Martin Essex from Daily FX and IGTV’s Jeremy Naylor discuss the impact on business of the disease. Essex says that the market sentiment will be highly affected by this human tragedy, shifting investments into safe heavens, such as bonds, gold, and heaven currencies, and away from stocks. They also talk about the impact on oil and gas, and mention the key industries affected, such as tourism and airlines. While it is too early to say how widespread the coronavirus is, food transportation might become an important issue. Essex mentions what key lessons can be learned from the recent history - 2002-3 SARS outbreak in China, and 2009 ‘swine flu’ pandemic in Mexico.

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