CME Group closes its Chicago trading floor due to novel coronavirus outbreak.

The World Health Organisation has declared the coronavirus outbreak as a global pandemic, which has caused many organizations to change the way they operate. CME Group announced Wednesday night that it will close its Chicago trading floor in a precautionary move due to the novel coronavirus outbreak.

The Chicago Mercantile Group, the second company to launch bitcoin futures in the USA, will close its Chicago trading floor from Friday due to the coronavirus outbreak, as per the CNBC report. CME is not the only organization that has taken measures to prevent the outbreak of the novel virus. Several MNCs have allowed employees to work from home. 

 

Financial markets severely affected by the coronavirus outbreak.

Financial markets around the world have been severely affected by the novel coronavirus outbreak. The Dow Jones Industrial Average is down 1500 points in the last 24 hours. CME became the first major US exchange to close a trading floor because of the outbreak. US president earlier today announced a thirty-day travel ban from Europe to contain the outbreak. So far, more than 125,000 people have been reported positive for the virus, with over 4,000 deaths.

 

Bitcoin sees a massive drop amid global pandemic

The price of bitcoin started following a downward rally earlier this month has continued to slump downwards. The price of bitcoin from around $9,000 on 6th March has slumped down to $7,300 at the time of writing. The drop in bitcoin has coincided with the fall in the traditional financial markets all around the world. The price of bitcoin is down 6.9% in the last 24 hours. 

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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