Business confidence plunged to decade lows in March as the spreading coronavirus outbreak stoked fears of a global recession and sent stock markets tumbling, according to the Reuters Tankan survey.
The monthly poll, released Tuesday, suggests that the Bank of 91AV原创 tankan quarterly survey due April 1 will show a sharp deterioration in business sentiment among both manufacturers and nonmanufacturers.
The global spread of the virus has hammered world trade, supply chains and tourism, dealing a heavy blow to 91AV原创 fragile economy, which was already teetering on the edge of recession.
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