S&P Global warns coronavirus could lead to global recession

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Traders work on the floor of the New York Stock Exchange shortly after the opening bell as trading is halted in New York, U.S., March 16, 2020. ? Reuters/Lucas Jackson The sudden economic crunch due to coronavirus containment measures might cause a global recession this year and could see US corporate default rates spike above 10% in the next 12 months, ratings agency S&P Global cautioned Tuesday.

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