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White House sees minimal impact on U.S. economy from China's coronavirus

Credit: Reuters- Published 2 weeks ago
The White House's economic adviser on Friday said that President Donald Trump's administration does not expect the coronavirus in China will have a major effect on the U.S. economy.
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Credit: Wochit
Published 3 weeks ago -  00:44
China's Coronavirus Isn't Just Threatening Humanity, It's Threatening Global Markets
Concerns about the Wuhan coronavirus have rippled far beyond its epicenter in China in recent weeks. The benchmark Shanghai Composite index closed down nearly 8% on Monday, erasing roughly $400 billion in value. But with no insight into how long the epidemic will last, the damage may become even more widespread than originally thought. Markets Insider reports analysts estimate that the coronavirus will chip away as much as 0.3% from global GDP this year. That would bring the annual growth rate to its slowest pace since the financial crisis a decade ago. That's prompted a wave of efforts to insulate the global economy from a sharp slowdown. Saudi Arabia could push for large oil production cuts at cartel meetings on Tuesday and Wednesday.

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