World stocks tumbled with investors bracing for the economic fallout of the epidemic, with a shocking all-out oil price war adding to anxiety.
Wall Street suffered its worst day since the financial crisis of 2008 as the Dow plummeted more than 2,000 points by Monday's closing bell, and London's FTSE 100 plunged to a three-year low after oil prices cratered by 30 percent overnight.
Meanwhile, Italian Prime Minister Guiseppe Conte announced Monday that the containment measures introduced Sunday for the Lombardy region in the country's north would be applied to the whole nation. More than 9,000 people have been confirmed to have the virus in Italy so far while Germany and Spain also saw spikes in the number of cases Monday.
The number of confirmed U.S. cases of coronavirus has risen to more than 650 on Monday, including 26 deaths.
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Netanyahu says anyone entering Israel from abroad will be isolated for 14 days
Israeli Prime Minister Benjamin Netanyahu announced Monday that anyone entering the country from abroad, including citizens, would be isolated for 14 days.
"This is a tough decision, but it is essential to maintain public health — and public health precedes everything," Netanyahu said. The rule will be in place for at least two weeks.
Netanyahu made the announcement during a series of discussions with other leaders regarding the coronavirus outbreak. He also said he was working on plans to maintain the Israeli economy.
Drive-in coronavirus testing in Germany
Dow tanks by 2,000 points, White House invites Wall Street executives to meet
The White House is inviting Wall Street executives to discuss the response to the new coronavirus outbreak, an administration official told CNBC.
President Donald Trump is expected to attend the meeting, which is scheduled to be held Wednesday. Invitations were being sent out as of Monday afternoon, the official told CNBC.
The Washington Post first reported the gathering.
The meeting was arranged amid a punishing market rout spurred by fears about the impact of the coronavirus. The Dow Jones Industrial Average tanked 2,000 Monday afternoon, on pace for its worst day since December 2008.
Trump to weigh coronavirus stimulus options Monday — including paid sick leave
White House and administration officials will present President Donald Trump with a set of economic stimulus options as early as this afternoon, including a plan to offer paid sick leave to those affected by the coronavirus and assistance for the hardest hit industries.
Despite Trump's continued downplaying of the effects of the virus — tweeting that a steep drop in oil prices is good for consumers, and blaming the news media for the plunging stocks — advisers are preparing to brief the president when he returns to the White House from a Florida fundraiser on a menu of options to shore up the economy, according to people familiar with the discussions.
CDC: People over 80 at highest risk
People over age 80, especially those with underlying health problems, are at highest risk for complications from the new coronavirus, the Centers for Disease Control and Prevention said Monday.
"The risk increases with age," the CDC's Dr. Nancy Messonnier said Monday during a call with reporters.
At particular risk are people with chronic diseases, such as diabetes, heart disease or lung disease.
These individuals should take extra precautions to avoid crowds and stock up on supplies in case of a quarantine, Messonnier said.
Those supplies include prescription drugs, over-the-counter medicines or supplies to treat fever or cough, and household items and groceries.
European stocks have worst day since Brexit
European stock exchanges took a hammering Monday as crude oil prices plunged and Italy chose to contain 16 million people as part of a wider effort to control the spread of the virus.
The Stoxx 600, which includes a basket of European stocks, closed the day in bear territory, or down 20 percent from a 52-week high. It's the worst performance since Britain voted to leave the European Union in June 2016.
Traders were responding to the increase in fatalities connected to the virus, and also a steep drop in oil prices as Russia and Saudi Arabia entered an all-out price war, following a disagreement on crude oil output cuts.
Biden: Trump 'shouldn't say another word' on coronavirus
Joe Biden told NBC News on Monday that President Donald Trump "shouldn't say another word" about coronavirus "because he's diminishing confidence exponentially.”
The presidential candidate and former vice president said he would lean on the CDC to communicate reliable information to the public, and for advice on whether to continue holding large political rallies amid coronavirus fears.
Trump "should let the experts ... he should let the CDC speak," Biden said.
In a tweet Monday morning, Trump compared coronavirus outbreak numbers to annual flu deaths. Health experts have warned such comparisons can be problematic because the flu is reasonably predictable while there is still a lot that is unknown about the new coronavirus and COVID-19, the disease it causes.