The impact of the coronavirus is being felt by virtually every industry.
The COVID-19 pandemic, which amassed 182,100 cases and caused 7,305 deaths globally as of March 17, has led to the disruption of everyday life, with local governments enacting strict measures to contain the virus’ spread.
New York Gov. Andrew Cuomo and New York City Mayor Bill de Blasio have made such orders to prohibit large gatherings, including closures of restaurants, bars, gyms, nightclubs and other businesses. These measures have affected myriad fashion and beauty businesses, many of which are now closing their doors for an indefinite period of time.
Read More: How Coronavirus Has Impacted the Fashion Industry
From major event cancellations and fashion week disruptions to the lengthy list of store closures, here are seven ways COVID-19 is impacting fashion, beauty and retail.
1. Fashion Stocks Plummet:
A stockbroker in Frankfurt, Germany
Michael Probst/AP/Shutterstock
The stock market has experienced significant declines for the last few weeks as COVID-19 has rapidly spread across the globe.
On March 16, trading was halted shortly after markets opened and the Dow Jones Industrial Average fell 1,820.41 points (or 7.9 percent) to 21,365.21, further pushing the market into bear territory.
Among those hit hardest by the decline are G-III Apparel Group (down
Follow WWD on Twitter or become a fan on Facebook.