After the CDC warned the U.S. population about a potential domestic coronavirus outbreak, the market has responded with a heavy sell-off that has sent the S&P 500 to last December levels.

Billions if not trillions of dollars have been already whipped out of the markets due to the fear that the virus will have a negative impact in the global economy and corporate earnings.

Even though these fears may be unsubstantiated and the sell-off could be an overly pessimistic response to a temporary situation, many economists are warning investors about the potential mid-term aftermath of coronavirus and how the current situation has already changed the course of the global economy for the next 12 months.