"With the partial exception of the Black Death in 14th century Europe, every major pandemic has been followed by an economic recession," said Professor Robert Dingwall, researcher at the University of Nottingham Trent in England.Long before the outbreak, the World Bank cautioned that the global economy was, and even the expected slow growth could falter if one of the risks materialized.
has stopped pilgrims from traveling to Mecca, and on Friday, February 28, the iconic Baselworld watch fair was canceled, as was the Geneva auto show. If there is an outbreak,"the reaction is likely to be extreme," said Gregory Daco, chief economist of Oxford Economics. And in this crisis, the financial markets"accelerate the feeling of panic." Wall Street ended the week with losses not seen since the 2008 global financial crisis.