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Fears Of Recession Mount As Coronavirus Declared A Pandemic

Posted On: Mar 19, 2020   |   Posted By: Xconomy

Fears Of Recession Mount As Coronavirus Declared A Pandemic

Investor sentiment still backing growth for pharma and biotech sectors, but the length and severity of COVID-19's impact globally has yet to be seen. Confirmation that the coronavirus has reached pandemic status on 11 March has darkened the mood worldwide, raising fears about the rapid spread of the disease outside China, and increasing chances of a worldwide recession. The US, the EU and other nations have hurriedly announced financial remedies, including lowering interest rates and providing loans and tax relief to small businesses, but markets have nevertheless slid downwards again. The World Health Organization is now using the pandemic term...

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