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A fundamentals-driven correction that may take some time to resolve.
Macro impact
The spread of the coronavirus globally has continued unabated in recent weeks. The combination of "business as usual" in Europe and the US and limited testing has exacerbated the issue and increased uncertainty regarding the extent of the outbreak and the ultimate path the outbreak will take. As policymakers take more aggressive measures to control the spread of the virus, we will likely see a large impact on global growth.