This coronavirus outbreak is already taking a very serious toll on the global economy, and experts are warning that we could still be in the very early chapters of this crisis. If this outbreak ultimately evolves into a horrifying worldwide pandemic that kills millions of people, what will the global economy look like a few months from now?
For the moment, more than 98 percent of the confirmed cases are still in China, but that could soon change.
And if this virus does start spreading in other countries like it is in China, that could rapidly push us into a deep global recession.
Many are fearing the worst. In fact, Forbes is already labeling this outbreak as "a black swan event"…
A black swan event is a term used on Wall Street that refers to a rare and unpredictable occurrence that is beyond what is expected and has severe consequences. It's derived from European explorers who had previously thought that all swans were white and only white, as that was all they knew. They were overcome with shock and confusion when Dutch explorer Willem de Vlamingh discovered the existence of black swans in Australia.