Industry fears that global recession may accompany coronavirus

As more and more regions are getting affected by the deadly coronavirus, countries have started stockpiling medical equipment and virus-related disruptions to international travel and supply chains fuelled fears of recession in the United States and the Euro zone.

“The coronavirus now looks like a pandemic. Markets can cope even if there is big risk as long as we can see the end of the tunnel,” stated Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

U.S. investment bank BofA lowered its world growth forecast to the lowest level since the peak of the financial crisis, 2008.

Italy, Spain, Germany, Nigeria and Japan are some of the coronavirus-affected nations.