Europe & North America Coronavirus Impact Analysis

16 March 2020

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The rapid spread of coronavirus around the world, coupled with Saudi Arabia’s decision to increase the supply of oil, led to a market panic last week that sent prices of stocks, bonds and asset-backed securities plunging in Europe and North America. 
 
Instead of stabilizing markets, the US Federal Reserve’s emergency action on Sunday to cut interest rates to near zero and revive a USD 700bn quantitative easing program pushed stocks down over 10% on Monday as countries closed borders. 
 
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