Stocks slump on virus, trade war concerns

New York (AFP) – European and US stock markets sank Wednesday, with investors worried over rising coronavirus infections in several countries as trade tensions between Brussels and Washington rose again.Updated IMF economic forecasts also hit investor sentiment, with the institution predicting the global economy would contract by 4.9 percent this year and warning the downturn is a “crisis like no other.”Meanwhile, the US said it is considering new taxes on $3.1 billion in European imports amid a dispute over subsidies to planemaker Airbus, just days after the EU indicated it plans to move forw…

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