COVID-19 Impacts US Stock Markets and Economy

Mercatus expects every month of the partial shutdown to shave off 5% from the US GDP. According to the findings, the US GDP would contract by 10% of $2.14 trillion in the first two months of the partial COVID-19 shutdown. The WTO expects global trade to fall by 13%–32% this year. Meanwhile, the United Nations expects the global GDP to fall almost 1% this year due to COVID-19. According to World Bank data, the global GDP fell by 1.7% in 2009.

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