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How a virus impacts the economy and markets
The outbreak of a new virus in China has sent shivers through world financial markets, with investors drawing comparisons to the 2003 SARS (Severe Acute Respiratory Syndrome) outbreak in order to assess its potential economic impact. The following factbox collates the estimates of the economic impacts of past such episodes as well as individual company winners and losers from the current outbreak. 1) GLOBAL ECONOMIC & FINANCIAL MARKET IMPACT A 2017 paper here by economists Victoria Fan, Dean Jamison and Lawrence Summers estimated that the expected annual losses from pandemic risk to be about $500 billion - or 0.6% ... (full story)