The coronavirus outbreak is dangerously close to shrinking global growth this quarter, UBS warns

The coronavirus outbreak's effect on the world economy is driving growth near negative levels in the first quarter of 2020, UBS economists wrote on Tuesday.
The hit to China's economy accounts for most of the bank's updated forecast, with disruptions in Thailand, Singapore, and Hong Kong also weighing on global expansion.
UBS's guidance doesn't take supply-chain slowdowns into account, and Apple recently warned that a hit to iPhone production would drive quarterly revenue below its initial estim