Doctors speaking to the covid, twins

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Though the official figures are shocking enough, health experts and even some governments acknowledge they do not capture the full spread. The virus mostly goes undetected in people with minor symptoms or none at all.

With airlines largely grounded, businesses closed, layoffs mounting and millions of people under lockdown, the economic fallout is set to be worse than the 2008 financial crisis.

Rather, comparisons are being drawn with such traumatic periods as World War Two or the 1930s global Depression.

 

Morgan Stanley predicted that the U.S. economy, the world's biggest, would shrink 5.5% this year, the steepest drop since 1946, despite an unprecedented aid package. An eye-watering 38% contraction is predicted for the second quarter.

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