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.
system
write a paragraph that quantifies the effect coronavirus has had on the global economy.
user
the coronavirus pandemic has had a devastating effect on the global economy. over 50 million jobs have been lost worldwide and the global economy is expected to shrink by at least 5% this year. many businesses have been forced to close or significantly reduce their operations due to the pandemic, leading to an unprecedented downturn in economic activity. as a result, stock markets have lost trillions of dollars in value, and there has been a sharp rise in unemployment and poverty levels worldwide.
assistant