Global Economic Fallout Grows as Coronavirus Cases Pass 600,000

Concerns about the financial toll of the coronavirus pandemic continued to grow as the number of infections globally topped 600,000 Saturday, with the International Monetary Fund warning of an economic and financial crisis exceeding that of a decade ago.

Overlapping travel bans and lockdowns have hammered businesses and led to millions of job losses, punctuated by a spike in U.S. unemployment claims to more than three million this week and a warning of a deep recession this year in trade bellwether Singapore.

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