Novel coronavirus (COVID-19), first identified in Wuhan City, China, is a new strain of coronavirus, which has been spreading internationally in recent weeks. As the number of coronavirus cases continues to increase in an increasing number of countries, it’s tightening its grip on society and the impact on business is intensifying. Recent reports of the virus spreading through Europe and North America may indicate that the world-wide economy will be strongly affected. US stock market indexes fell around 10 percent last week, prior to news of Central Banks vow to act on coronavirus. And this week, the IMF adjusted its global economic forecast for 2020.
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