With the death toll approaching 3,000, over 80,000 cases officially recorded and an outbreak in Italy now shutting down the richest chunk of its economy, some economists are beginning to war game what an untethered outbreak could mean for global growth.
Investors are already nervous, with US stock benchmarks slumping more than 3% on Monday and the S&P 500 Index dropping the most since February 2018. The head of the World Health Organization called the new cases “deeply concerning, ” but said the outbreak isn’t yet a pandemic.
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