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Coronavirus Economic Slump may Surpass 2008 Crisis
Sputnik / February 29, 2020 – Earlier in the day, US stocks closed with their biggest weekly losses since the 2008 financial crisis, as Wall Street’s three major indexes each fell about 12 percent or more on the week, amid fears of a global economic slowdown from the coronavirus crisis.
The coronavirus crisis may already have triggered a long-term global stock market slump and economic crisis greater than the 2008-9 Wall Street meltdown, former European Union consultant Paolo von Schirach said. “It is difficult to see how markets can stabilize – unlike 2008,” Schirach, president of the Global Policy Institute and Chair of the International Relations Program at Bay Atlantic University (BAU), said on Friday.
