A United Nations trade report issued on Tuesday says that foreign direct investment (FDI) has plunged by 49 percent around the world in the first half of 2020 from the same period a year ago.

FDI is on course to fall by up to 40 percent for the year, driven by fears of a deep recession, the UN has warned.

A report by the UN Conference for Trade and Development (UNCTAD) showed that FDI flows to European economies turned negative for the first time ever, falling to minus $7 billion from $202 billion (€171 billion). Foreign direct investment flows to the United States dropped by 61 percent to $51 billion. (RT)