"All of these decisions have major costs. If we close the schools, hundreds of thousands of kids will have nowhere to get lunch and breakfast," New York City Councilman Mark Levine told CNBC.
The European Union could face a financial crisis similar to the global crash of 2008 if governments don't coordinate to tackle the coronavirus, the ECB President Christine Lagarde has reportedly said.
Cruise stocks Royal Caribbean, Carnival and Norwegian have sustained serious losses amid the global spread of the coronavirus, but "all hope is not lost" for the group, says Todd Gordon, managing director at Ascent Wealth Partners.
PepsiCo to acquire Rockstar Energy in a $3.85 billion deal, doubling down on energy drinks and with an eye toward turning around its struggling Mountain Dew brand.
Another major drop in mortgage rates caused a massive jump in borrowers applying to refinance their home loans. The surge sent total mortgage application volume up 55.4% last week, according to the Mortgage Bankers Association.
Italy's Prime Minister Giuseppe Conte announced the government will set even more money aside to tackle the outbreak, raising spending to $28.3 billion.
The new coronavirus has infected more than 110,000 people across at least 110 countries and territories, with over 4,000 deaths globally, according to the World Health Organization.
The news comes as President Trump and his economic team work to assemble an economic response to the deadly coronavirus' spread and its impact on markets and the economy.
Former Vice President Joe Biden will win Mississippi's Democratic presidential primary, besting rival Sen. Bernie Sanders and continuing his dominance throughout the South, according to a projection from NBC News.