World markets tumble and all of Italy goes on lockdown

Here's the latest on the coronavirus outbreak.
Image: South Korean soldiers spray disinfectants inside an apartment complex which is under cohort isolation after mass infection of coronavirus disease (COVID-19) in Daegu
South Korean soldiers spray disinfectants inside an apartment complex that is under isolation in Daegu on Monday. Kim Kyung-Hoon / Reuters

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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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2nd person dies in California

A woman in her 60s who had been hospitalized for several weeks died on Monday morning, the Santa Clara Public Health Department said — bringing the California death toll to two people.

She was the first person in Santa Clara County who was confirmed to be infected with the disease caused by coronavirus without any known history of international travel, or contact with an infected person — suggesting she contracted the disease in the community.

“This is a tragic development. The Public Health Department is taking necessary, carefully considered steps to slow down the spread of the disease and to protect those at greatest risk,” said Dr. Sara Cody, a health official for Santa Clara County.

Courts and coronavirus

A few federal courts around the country are beginning to reduce or restrict operations or access in view of the coronavirus.

All jury trials, both civil and criminal, have been postponed in Seattle and Tacoma federal courts. Grand juries are not meeting there, either.

Federal courts in New York's Southern District, including Manhattan, are restricting entry. No one will be allowed in who traveled within the past 14 days to China, South Korea, Japan, Italy or Iran, or who had close contact with someone who has. The chief judge has also ordered that no jail inmates can be brought to court for hearings if they have a fever.

The Administrative Office of the U.S. Courts has notified all federal courts to make certain they can maintain essential functions in the event of a pandemic, by substituting teleconferences for face-to-face meetings, requiring staff to stay home at the first sign of symptoms and encouraging more telework.

 

Ohio governor: Three people have tested positive

7-year-old in NYC diagnosed with coronavirus

New York City Mayor Bill de Blasio announced Monday that a seven-year-old girl in the Bronx has been diagnosed with the coronavirus. 

This is not the first child in the U.S. to be diagnosed. An elementary school student in Indiana, as well as another New York City child, have also been diagnosed. 

But overall, children comprise a small percentage of total cases worldwide, including just 2.4 percent of reported cases in China, where the outbreak started. 

Among those children, complications from the virus have been rare. No deaths have been reported so far in young children.

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

Dr. Roxana Sauer, dressed in a protective suit, demonstrates the procedure of taking a nasal swab from a visitor in his car to test for possible coronavirus at the Kreissklinik Gross Gerau regional clinic on Monday in Germany. The clinic recently began offering the drive-in service as a means to prevent possibly infected patients from coming in contact with other hospital visitors or staff. The number of confirmed coronavirus cases in Germany has risen sharply in recent days to over 900.Alex Grimm / Getty Images

 

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.

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