The deadly virus sweeping across China could slash its economic growth, S&P warns
"It's potentially huge," Neil Wilson, chief market analyst of Markets.com, told Business Insider. "We simply don't know what the impact or even the potential impact could be. We only have SARS in 2003 to base assumptions on."
China's real GDP growth slowed from 11.1% in the first quarter of 2003 to 9.1% in the second quarter, suggesting SARS had an impact of about 2 percentage points,Stock markets largely shrugged off the virus fears on Friday. Investors cheered ECB boss Christine Lagarde's plan to keep interest rates at current levels or below until inflation nears 2%, and maintain the bank's bond purchases until shortly before rates normalize.
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