Global trade activity fell by 2.6% year over year in February according to CPB World Monitor data. That came before the coronavirus-linked industrial lockdowns spread globally. Panjiva’s analysis of data from 14 countries shows the downturn in March could be twice as fast. Eurozone exports fell 3.2% year over year in February and are likely to have dropped even more quickly in March and April. The latest IFO survey of business sentiment in Germany showed an export reading of -50 where zero indicates unchanged orders. That was the worst result since the series started in 1991. Ex...