We are concerned that the coronavirus could prove to be a headwind to short-term economic growth. At the moment, it is not clear whether the crisis will last a few months or longer.
While a global crisis in which large swathes of the world's population have been locked down will, inevitably, leave some companies floundering, others are likely to emerge stronger than before.
As Covid-19 sweeps across the globe, a recession looks unavoidable.
Asia was first into the coronavirus crisis, with China officially reporting cases in mid-January, but it is showing encouraging signs that it may be the first to emerge from it.
At the time of writing, UK equity benchmarks have fallen by approximately one-third from their year-to-date highs.
Outlooks for the biotech sector
The disruption to the global economy from the worldwide spread of the coronavirus is the biggest shock to the world since the Second World War.
Moved beyond a 'single demand shock'