as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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describe the impact of the coronavirus on the economy.
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the coronavirus has had a major impact on the economy, causing disruptions in industries such as tourism, travel, hospitality, retail, and more. these industries have seen sharp decreases in activity, resulting in surging unemployment levels, a weakened stock market, and decreased consumer spending. business closures have been rampant, and some companies have even been forced to permanently close their doors. as a result, fiscal and monetary policies have been embraced by governments to help stem the economic downturn.
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