‘Black swan’ coronavirus casts its shadow over the global economy

Airlines have grounded flights, banks have sent staff home. In China and worldwide, the virus has taken its toll

With the coronavirus outbreak spreading far beyond its source in China, companies are braced for a hit on profits as demand slumps and production is disrupted in the world's second largest economy and beyond.

Executives face weeks of uncertainty over how many people will catch the virus worldwide and what the full impact will be. Daniel Zhang, the boss of China's biggest listed company, Alibaba, described the coronavirus outbreak as a potential "black swan" event that could derail the global economy.

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