The market selloff was about more than Covid-19. Here’s why
The virus was just a trigger, and even if the rate of infections starts to slow, don’t expect a sudden recovery
The screens are a sea of red. Equities are tumbling globally. Headlines flash up about the biggest points loss in Wall Street history. And pictures of stressed-out traders staring bleakly into the Bloomberg terminals are splashed across newspaper front pages.
Most of the population may well have remained fairly stoic in the face of the coronavirus but the markets are in a full-scale panic as investors try to work out its potential impact on the global economy.
But the selloff is not just about the virus...