COVID-19 has claimed over 4,200 lives and infected more than 117,330 people across 107 countries and territories. And global stock markets have been sinking despite central banks putting in effort to ease the effects of the outbreak.

In the wake of the coronavirus outbreak, the global markets have been observing a mass sell-off wherein shelves are falling empty in malls, and shopping complexes; and online deliveries are being delayed. There has been a sharp spike in sales of food items, daily necessities and personal hygiene products, precipitating a shortage in the markets.

The massive sell-off has impacted trading in various markets, leading to a loss in shares.

In India, sensex on Monday recorded a loss of over 7 per cent. This happened even after Prime Minister Narendra Modi advised to not panic, and follow precaution.

India, which has reported 79 positive cases of COVID-19, has stepped up surveillance to contain the spread of the disease.

Japan and Singapore are the other two countries that have been facing the worst crisis ever since the outbreak of coronavirus.

In Singapore, photos of queues at various supermarkets, and later empty shelves at supermarkets started circulating online on Monday. This happened after Malaysian government’s announcement that there was no need to horde supplies.

To this end, reports say, the Singapore Government worked with supermarket chains to increase the country’s stock of food and essential supplies. And it, being a small-sized economy, helped.

The opposite happened in Japan. It’s initial response was mild, and later, Prime Minister Shinzo Abe shut down all school and institutes.

Japan even had to introduce penalties for the resale of masks. And the e-commerce website eBay banned new listings for health products.

The markets are looking to governments for more co-ordinated effort and more targetted support.

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