UNCTAD report: 2020 could be a washout year for global economy thanks to Covid-19
The epidemic has yet to run its course, but even after its stops spreading and China starts to return to normal business activity, it will take a long time to unwind the stresses inflicted on the world’s trading system
March 06, 2020 / 09:33 AM IST
Markets are finally acknowledging the destructive power of coronavirus or Covid-19. All global equity markets have corrected sharply since mid-February 2020 as the virus spread rapidly within China and crossed borders to envelop all continents. The Dow Jones is presently trading nearly 11 percent lower than its February peaks, while Indian markets are down by over 8 percent during the same period.
The equity markets are now realising that the ‘V’ shaped recovery that was expected earlier is unlikely to...