Coronavirus threatens to upheave world economy

By: - March 1, 2020 3:01 pm

The spreading coronavirus is threatening the global economy, experts say. (Photo by (Photo by Mario Tama/Getty Images)

The novel coronavirus outbreak across the world shook stock markets last week, with the United States seeing the worst stretch on a percentage basis since the 2008 economic crisis.

As the threat worsened, President Donald Trump looked for ways to counteract the economic damage while suggesting the threat, at least in the United States, isn’t as bad as many think. Health officials and Democrats begged to differ.

Here’s a look at what some U.S. national media were saying about the economic and political fallout of the potentially fatal virus spreading from China, Japan and South Korea.

Reuters: Trump administration officials on Sunday looked to calm fears of a global recession linked to business disruption from the spreading coronavirus, suggesting the strong U.S. economy would bounce back.

BBC: Italy was the first European country to report a major surge in cases of the coronavirus, and related travel restrictions could hurt the economy.

CBS News: Washington reports first U.S. death from coronavirus. President Trump reported 22 U.S. patients have the virus. Travel restrictions on Iran were expanded.

Wall Street Journal: The last big coronavirus outbreak in China, in 2003, didn’t affect the global economy much. But China is a much bigger economic power this time around.

The Guardian: China’s factory output has plunged, virtually assuring more global economic trouble this week.

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