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Global Markets: Coronavirus to slow global economy

By MarketsFarm

WINNIPEG, March 3 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– The finance ministers and heads of the central banks from the G-7 countries discussed the coronavirus on Tuesday and what measures to take to prop up the global economy. The teleconference came the day after the Organization for Economic Co-operation and Development (OECD) reported global economic growth could slow from 2.9 to 2.4 per cent in 2020, the lowest rate since 2009. Also, the OECD remarked that several countries could slip into recession due to the coronavirus.

– Voters in 14 states will head to the polls today in ‘Super Tuesday,’ the largest single day for primaries in the United States with 1,357 delegates up for grabs. Former Vice-President Joe Biden received a boost in support on Monday as Minnesota Sen. Amy Klobuchar and former South Bend, Ind. Mayor Pete Buttigieg threw their support behind Biden. Once more than 20 candidates, the Democratic field is down to five: Biden, Vermont Sen. Bernie Sanders, California Sen. Elizabeth Warren, Hawaii Rep. Tulsi Gabbard and former New York City Mayor/billionaire Michael Bloomberg.

– In Israel’s third general election in 12 months, Prime Minister Benjamin Netanyahu has claimed victory. Pending official results, Netanyahu’s Likud Party is set to win 36 of the 120 seats in the Knesset. Together with his right-wing allies their coalition would control at least 59. Although the nationalist Yisrael Beiteinu party won seven seats, it’s in position to grant Netanyahu a majority. The centrist Blue and White alliance led by Benny Gantz slipped to 32 seats and the Arab Joint Alliance increased to 15. The remaining seats were split among several smaller parties.

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