Coronavirus Sparks Talk of Global Recession and 'Economic Pandemic' as Stock Markets Dive

As the number of confirmed coronavirus cases surpassed 80,000, with new outbreaks in Italy and Iran and a worsening situation in South Korea, stock markets plummeted amid analysts' fears that the health emergency might spark a global recession.

But others cautioned that the risk of recession is low and China will likely contain the new coronavirus by the end of March, staving off an economic crisis. Moreover, the internet is helping offset some of the economic damage.

Monday's sharp falls on America's Dow Jones Industrial Average, S&P 500, and NASDAQ...