A range of banks and financial institutions have offered their worst-case scenarios for 2020, as the spread of the new coronavirus impacts the global economy and roils financial markets.
The global uptick in gross domestic product (GDP) could be as low as 1% this year, the Institute for International Finance (IIF) said last week, and that prediction was even before an oil price crash on Monday sent stocks into another tailspin. The world economy grew 2.9% in 2019, according to estimates from the International Monetary Fund.
