Global corporate revenue to take $12 trillion hit due to coronavirus

US companies are likely to cut capex plans by $900 billion (4 per cent of gross domestic product), trim spends on buybacks and mergers & acquisitions (M&As) by around $600 billion (3 per cent of GDP).

US companies are likely to take a $4 trillion blow due to coronavirus (COVID-19) pandemic, says the latest report from Bridgewater Associates – a US-based hedge fund that manages nearly $160 billion in global investments for approximately 350 institutional clients. The global impact, according to Bridgewater is far higher.

“At this point, we estimate US corporate revenue across public and private businesses will decline by roughly $4 trillion. That is a very dangerous decline, and, if not mitigated, it will lead to a long lasting ripple. Since this hit to revenues is happening throughout the world, the total hole globally will