China’s economy and Dow Jones hurt. Could coronavirus bring global recession?

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A man wearing a protective mask is seen inside the Shanghai Stock Exchange building, as the country is hit by a new coronavirus outbreak, at the Pudong financial district in Shanghai, China February 28, 2020. Credit: REUTERS/Aly Song.

The Dow Jones Industrial Average plummeted this morning, concluding the worst week on Wall Street since the 2008 financial crisis. All eyes are on manufacturing in China, currently throttled by the novel coronavirus (COVID-19). China is the world’s second largest economy, and industries rooted there are stressed. Companies like Apple, Nike, Crocs, and Hasbro are all reporting significant hits to their bottom lines. Will we see a full global recession?