Market Economics Managing Director Stephen Koukoulas says the coronavirus’ impact on the economy “is getting really serious now, it’s going from bad to worse”.
Mr Koukoulas told Sky News the “fallout” was “extreme right now” and based on “fear and concerns”.
“The global economy will have a very hard landing,” he said.
“Whether that’s a recession is unclear, but markets are looking at dislocation in terms of economic growth.
“Bills aren’t being paid on time, businesses are in trouble and that is impacting market sentiment.”