The financial markets caught the swine flu yesterday.
The outbreak in Mexico has spread to America, Canada and New Zealand. Australian authorities are trying to contact 300 people who shared an Air New Zealand flight to Australia (via New Zealand) with infected passengers.
Financial markets - already unstable - sold down heavily in transport and aviation stocks. China has placed a ban on all pork products from the USA and Mexico (despite the fact cooked pork products contain no traces of flu). American authorities have placed an alert recommending against travel to Mexico.
To date the “global pandemic” hasn’t taken an enormous toll (in actual numbers, versus the gargantuan toll one death takes on a family). Yet the biggest casualty may prove economic. They say those most at risk in flu season are the frail. Global financial markets couldn’t be weaker. Add to that calls to slap in place some protectionist measures and you may find swine flu taking a disproportionate bite out of the economy.
It is my fervent hope the flu is contained before taking a high toll in lives. It is my great hope, also, that swine flu doesn’t further infect the already sick financial markets. The patient may not survive a relapse.
