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Coronavirus update: COVID-19 likely to cost economy $1 trillion during 2020, says UN trade agency UN Photo/Mark Garten Stock markets around the world have been losing value as the coronavirus outbreak worsens.         9 March 2020 Health Apart from the tragic human consequences of the COVID-19 coronavirus epidemic, the economic uncertainty it has sparked will likely cost the global economy $1 trillion in 2020, the UN’s trade and development agency, UNCTAD, said on Monday. “We envisage a slowdown in the global economy to under two per cent for this year, and that will probably cost in the order of $1 trillion, compared with what people were forecasting back in September,” said Richard Kozul-Wright, Director, Division on Globalization and Development Strategies at  UNCTAD . Launching the UNCTAD report as world financial markets tumbled over concerns about supply-chain interruptions from China, and oil price uncertainty among ma