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Economy

Coronavirus has sent world into recession, Wall Street says

Goldman Sachs, Morgan Stanley and S&P revise global growth forecasts

An air traveler sits among empty seats on a Delta flight to San Francisco, after further cases of coronavirus were confirmed in New York, at JFK International Airport, New York on March 17.   © Reuters

NEW YORK -- The global economy is entering a recession this year as the COVID-19 crisis spirals outside Asia, Wall Street warns.

Goldman Sachs, Morgan Stanley and S&P Global on Tuesday revised their global growth forecasts to recession levels, with more countries in the West going into lockdown mode in recent days.

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