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How did the pandemic affect the economy?
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The pandemic had a significant effect on the economy, leading to reduced economic activity, widespread job losses, and a large decrease in financial markets. Businesses were forced to shut down or severely limit their operations, resulting in drops in both corporate and consumer spending. Furthermore, supply chain disruptions led to higher prices for many goods and services. The overall result was a sharp decline in economic growth and a significant downturn in global financial markets.