Coronavirus will likely hit these states hardest financially, according to Moody's - Numbers 1,2 and 3 are Nevada, Hawaii and the State of Washington

Nevada is likely to be hit the hardest financially by the coronavirus outbreak, according to research compiled by Moody’s Analytics.

“If you're getting hit hard now and businesses are failing, and there's bankruptcy and people are taking on debt or starting to default on debt, it's going to be harder for those economies to recover,” Moody’s Analytics Chief Economist Mark Zandi told Yahoo Finance. “So the No. 1 criteria for determining who recovers more gracefully will be who gets hit least hard during this period.”

Moody’s looked at six metrics: exposure to the COVID-19 (20%), demographics of the city and state (20%), trade and travel disruptions (20%), tourism (20%), finance (10%) and commodities (10%). The data, compiled on March 30, comes with a caveat: The virus is constantly evolving and spreading, making it difficult to pin down concrete numbers.

Nevada and Hawaii were likely to face more pain because of the massive hit to their tourism industries as most states have discouraged travel and put in place orders for people to stay at home.

Read more: Stuck at home? Here’s where to get free music, theater, and more during coronavirus isolation

The state of Washington, the site of the first outbreak within the U. S., was No. 3 on Moody’s list. New York — which has the most confirmed cases of any state — was the No. 5 most ex... (Read more)

Tweets mentioned:

https://twitter.com/TSAmedia_LisaF/status/1244962541274632192

Latest News