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Coronavirus outbreak: Commentary
Pandemic threatens to set off financial contagion in a world mired in debt
Signs of debt stress multiplying in industries impacted by the coronavirus
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Traders on the floor of the New York Stock Exchange. The level of debt in the US corporate sector is 75 per cent of the country's gross domestic product, breaking the previous record set in 2008.
PHOTO: AGENCE FRANCE-PRESSE
Ruchir Sharma
A once-in-a-century pandemic is hitting a world economy saddled with record levels of debt.
Though the United States Federal Reserve moved over the weekend to slash rates and buy treasuries - followed by similar moves from many other central banks in the past few days - markets around the world fell anyway.
