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An example use of contagion in a speech by a native speaker of american english:
“… causing panic through contagion in many …”
meanings of contagion
A resulting recession or crisis developed in such manner.
The spread or transmission of such a disease.
A disease spread by contact.
The spread of anything likened to a contagious disease.
A situation in which small shocks, which initially affect only a few financial institutions or a particular region of an economy, spread to the rest of financial sectors and other countries whose economies were previously healthy.