Industries that are hit the hardest by coronavirus

Equities 2 minutes to read

Peter Garnry

Head of Equity Strategy

Summary:  Oil and gas services, cruise lines and base metals industries are the three hardest hit industries from the coronavirus. We also show the other hard hit industries in order for investors to prepare and create monitor list for taking advantage of the opportunities when market sentiment changes. We also highlight single stocks.


The coronavirus in China continues to worsen with the death toll rising. For now it’s clear that commodities are where the real price discovery is on the economic impact from the coronavirus. The verdict so far is that the real impact is significant, but outside commodities we are observing pockets of the equity market being under pressure. The industries that have been hit the hardest are cruise lines, oil & gas services and base metals which shows that tourism and the front-end of the global supply chain is being impacted. Other industries that are being impacted are travel & leisure, casinos, steel, airlines and shipping. To put things in perspective US-China air passenger traffic could fall 75% over the coming six months. As we have said the whole week we remain tactically short on equities and demand new all-time highs to get back into positive view on a tactical basis.

But the coronavirus will at one point stabilize and when the time comes there will be a significant rebound trade in the industries that have been hit the hardest. So any investor or trader should create a monitor of stocks in the industries that have been hit the hardest. The table below shows single stock names in the three hardest hit industries.

Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

Saxo Bank A/S is licensed by the Danish Financial Supervisory Authority and operates in the UAE under a representative office license issued by the Central bank of the UAE.

The content and material made available on this website and the linked sites are provided by Saxo Bank A/S. It is the sole responsibility of the recipient to ascertain the terms of and comply with any local laws or regulation to which they are subject.

The UAE Representative Office of Saxo Bank A/S markets the Saxo Bank A/S trading platform and the products offered by Saxo Bank A/S.