Covid-19 is spreading. Spreading even faster, in the last week of February, was financial panic.
The Dow Jones share-price index in the USA went down 12% in the week ending 27 February, its biggest drop since 2008.
The first economic effects from a pandemic are in some ways the opposite of the usual beginning of a capitalist slump.
That usually begins with "overproduction" - when capitalists, vying each to outstrip the other in a boom, find they've increased capacity way beyond available market demand, and suddenly cut back on new investment.