The global outbreak has caused upheaval in stock markets and disrupted supply chains around the world. On Tuesday, the Federal Reserve took aggressive steps to try to contain the damage, announcing that it would slash interest rates by half a percentage point.
The outbreak has already caused factories to be closed, flights grounded and events canceled. Entire cities in Asia and Europe are nearly shut down. Apple, Mastercard, United Airlines and dozens of other companies have warned that the virus will hurt profits.
The impact of the coronavirus won’t show up in economic statistics right away.
