Coronavirus isn’t likely to cause a full-blown global recession—yet

Coronavirus isn’t likely to cause a full-blown global recession—yet

Stock markets are freaking out about the spread of Covid-19, the disease caused by a new coronavirus. On the surface, the market reactions are grim: Global equities had their worst week since 2008, as traders dumped everything that smells risky. Back then, panic in the credit system cut off lending, causing the global economy’s gears to stop turning.