Economic and financial fallout from coronavirus so far incalculable – PM

Pedestrians wear masks as they walk down a busy street.

Well the word today is that the economic and financial fallout from the coronavirus is so far incalculable.

What we do know so far though, is that billions more dollars were wiped off the value of stocks today as investors bailed out of the sharemarket, and the risk is there’s still worse to come.

We also know that the federal budget surplus is now on the chopping block, and there’s a possibility of Australia will enter a recession this year if the virus isn’t contained by May or June.

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