the Impact on the global economy of a pandemic coronavirus may be more devastating than the financial crisis in 2008, believe Deutsche Bank.
"it is Becoming increasingly obvious that the impact of various production shutdowns in the Western world would mean that at its peak influence COVID-19 on the global economy will probably be worse than the peak of the global financial crisis," said financial strategist at Deutsche Bank Jim Reid, adding that the situation is unlikely to improve before the summer.
U.S. stock index on Tuesday went even lower after the steep fall on wall street since 1987, at the previous session, as growing shortages in business in an attempt to contain the pandemic coronavirus has caused concern about the real economic damage.
European shares fell again on Tuesday after a sharp selloff the previous session caused by panic due to the spread of the coronavirus in Europe and its global consequences.
