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Coronavirus markets ‘shock’ may cost $1trn and spark global recession, UN economists warn

Households and businesses must brace themselves for a global recession, the United Nations’ economic body has warned. In a report which will spark memories of 2008, the UN Conference on Trade and Development warned that the COVID-19 economic “shock” could end up costing the world $1trn (£760bn) of lost income. It also said the virus “will cause…

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