Contractors are bracing themselves for the cost of jobs to go up as supply chains are hit after the coronavirus outbreak tightened its grip on the world's economy, sending stock markets into freefall. The US stock market suffered its worst day since the 2008 financial crash on Monday as the number of countries hit by the virus topped 100. China and Italy are the worst-hit, with the pair accounting for nearly £4bn worth of imports to the UK construction sector last year.
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