What is the effect of natural disasters on a country economy and market?

In general and in the ST, assuming disruption, the effect is negative as infrastructure, business activity, consumption and sentiment is affected. Markets which depend on corporate earnings outlook likely to react negatively esp if business activity and thus earnings are affected

It depends on how serious is the natural disaster and its effects in the country. One of the industry that will definitlely be affected by even a moderate natural disaster is the tourism and hotels sector, especially in a prolonged disaster recovery period for the country