While coronavirus continues to batter Wall Street, companies and sports associations are canceling events worldwide.
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Online human resources company Workday canceled its sales conference intended for the beginning of March. Workday’s conference was expected to draw 3,000 people.
Cyber Conference, which is slated for the end of March, saw Verizon, AT&T and IBM pull their participation. The companies will no longer be sending teams to the event.
|VZ||VERIZON COMMUNICATIONS INC.||60.59||+0.22||+0.36%|
|IBM||INTERNATIONAL BUSINESS MACHINES CORP.||124.92||+0.70||+0.56%|
Switzerland has prohibited gatherings of more than 1,000 people. The move comes ahead of the Geneva International Motor Show opening on March 5, which had expected more than 600,000 visitors. Switzerland borders Northern Italy, where a concentration of coronavirus cases can be found and has 15 confirmed infections.
The New York Auto Show, scheduled to begin in April, has not yet been canceled, Bolton added.
The International Cycling Union (UCI) has canceled the two final stages of its United Arab Emirates tour after two Italian staff members tested positive for coronavirus, Bolton said. British cyclist, Adam Yates was declared victorious after leading in the first five stages of the race.
The upshot of these cancellations is a loss of business for a slew of hotels, restaurants and local businesses, according to Bolton.