Economic recovery possible by autumn if west contains coronavirus, says fund manager CEO

Standard Life Aberdeen boss hoping for 'short sharp downturn' but urges big stimulus in UK budget

If the coronavirus outbreak can be contained in the west as it has been in China there could be a short sharp economic downturn followed by a recovery in six months' time, according to one of the UK's biggest investment managers.

Keith Skeoch, the chief executive of Standard Life Aberdeen, said the recent sell-off in global stock markets - which recorded their biggest losses since the 2008 financial crisis on Monday - reflected "pure panic" among investors about a coronavirus-driven economic downturn and an oil price war.