Economic panic: Expert warns of 'virus-driven ICE AGE' as markets plummet

THE world's biggest economies may plunge into a coronavirus-driven ‘ice age' after data showed the West's markets had frozen sparking a recession, economists warn.

Economists at ING Bank warned: “A recession is not the correct word of what we are currently witnessing. It is an abrupt stop of economic activity, from 100 to zero in just a few days or weeks. A virus-driven ice age.” The global tally of COVID-19 cases stands at 1,100,283 with more than 58,000 fatalities, according to Johns Hopkins University virus tracker. Global stock markets fell yesterday morning with the impact of the virus, and for some the oil market cash, putting at...
source: Express

2020-04-04 17:41
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