Goldman Sachs warns Wuhan coronavirus will hit US economic growth this quarter - Business Insider

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Passengers wear protective face masks at the departure hall of the high speed train station in Hong Kong, Thursday, Jan. 23, 2020. China closed off a city of more than 11 million people Thursday, halting transportation and warning against public gatherings, to try to stop the spread of a deadly new virus that has sickened hundreds and spread to other cities and countries in the Lunar New Year travel rush.Goldman Sachs predicts Wuhan coronavirus will cut US economic growth by 0.

The bank's economists warned growth would suffer from declines in Chinese tourism to the US and American exports to China.Wuhan coronavirus has infected nearly 10,000 people, killed 213 people, and spread to at least 20 countries.The banking titan's chief economist, Jan Hatzius, and his team predicted the fast-spreading virus would slow US growth by 0.4 percentage points this quarter. Goldman's previous growth forecast for the quarter was 2%.

The analysts also cautioned the economy could be hit harder if news coverage of the virus discourages people from travelling, commuting, and shopping, or worsens financial conditions for a prolonged period.

bkfViking123 Bullish

Scaremongering as usual, nothing new to see here.

Not according to Dr. Wilbur Ross. The Good Doctor sez Coronavirus is GOOD for us.💉

Naw❌ Trump’s impeachment already did that lol

Not this quarter should be this year- whole year!

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