Coronavirus Australia: Finance Minister Mathias Cormann reveals the economic cost of a second wave o
Finance Minister Mathias Cormann has warned a second wave of coronavirus could cost the Australian economy $80 billion over the next two years.
His calculation came as global share markets erupted into a sea of selling on fears of a pandemic resurgence, killing off recent optimism for a quick economic recovery.
The Australian share market looks set for a three per cent tumble at the opening on Friday after the Dow Jones index on Wall Street slumped over six per cent, posting its wost day since mid-March.
