The world has survived deadly viruses and other types of pandemics before, but never in modern history has one caused an economic crash anywhere near the sort we are seeing today with the coronavirus crisis.
During the 1918-19 Spanish flu outbreak, the most severe pandemic in recent history, the Dow Jones stock index declined around 10 per cent over more than a year. In this COVID-19 pandemic, it lost more than 30 per cent in a month.
A new report from National Bank of Canada points to an answer: the virus appears to be more contagious than previous pandemics, making it easier for COVID-19 to spread.
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