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Coronavirus cases could reach 64,000 in Washington state by May, governor says

New York City confirms two new cases of coronavirus contracted through community spread

"The Federal Reserve slashed interest rates by 50 basis points in an emergency meeting Tuesday morning. The Fed said the “fundamentals of the U.S. economy remain strong” but that the coronavirus “poses evolving risks to economic activity.” The Fed’s latest action on rates will likely put even more pressure on bank profits — as they won’t be able to charge a great deal on loans — than estimated by Goldman just one day earlier. Moreover, the Fed’s surprise response hints a sharp slowdown in U.S. growth is well underway thanks to the coronavirus, which of course is bad news for the banks as well."

Microsoft warns it will miss guidance for segment that includes Windows because of coronavirus

Markets have finally woken up to the threats being presented by COVID-19," Michael Every, a senior Asia-Pacific strategist at RaboResearch, said in a morning note. "Investors are deluding themselves about how severe the coronavirus outbreak will be," economist Nouriel Roubini wrote in a Financial Times column. "Despite this week's big selloff in equity markets, the worst is yet to come."

The IMF says it's time to "start preparing for more adverse scenarios."

I’ve now come to the view that equity markets, global equity markets, have to reprice to take into account or fully discount the dramatic economic impact that all of this is going to have,” Jonathan Pain, author of The Pain Report, told CNBC’s “Street Signs” on Monday morning in Asia. “I believe that repricing … has just started and I think it’s gonna be approximately 20% to 25% in the next month or so.”