Singapore’s prime minister warned on Saturday that the negative economic effects of the coronavirus outbreak will likely be deeper and more prolonged than the 2008 financial crisis. “The economic hit will likely be more serious than the global financial crisis, and longer-lasting too, even beyond the end of the pandemic,” Lee Hsien Loong said in.
How much worse could it get for oil? Crude prices took their cue from a nosediving stock market to lose up to 16% this week for the biggest weekly tumble since the Great Recession that began in 2008. That’s a known. But pundits looking at the carnage across markets from the coronavirus epidemic are warning.
Italy risks missing its already unambitious growth targets for 2020 because of the coronavirus outbreak, according to a senior government official. “The impact of the coronavirus risks being significantly negative on the global economy and also on the Italian one,” Deputy Finance Minister Antonio Misiani, said in an interview in Rome Tuesday. “It becomes more.
Virus Breeds Uncertainty U.S. stocks are set to open marginally higher Monday, rebounding after Friday’s losses which bucked an otherwise strong week. But these gains are likely to be limited as China’s coronavirus outbreak continues to claim victims and cause economic damage. A large number of China’s workers traveled back to offices and factories around.