Here's what you need to know before the markets open.
1. 'Can we panic now?': US futures trading was halted and overseas stocks, oil, bitcoin, and Treasury yields plunged after Trump's coronavirus plan failed to calm investors. "The biggest source of disappointment on Wall Street was the lack of specific ways to support people and small- and medium-sized enterprises."
2. 'Real killer blow': Global airline stocks plunge on Trump's travel ban and analysts expect a '30%-to-50%' drop. "The real bloodbath is going to be in the travel and leisure industry."
3. A Robinhood trader tells us how he raked in a 2,400% return in 5 days as coronavirus and oil hammered markets. Reddit user "SpeaksInBooleans" netted the massive windfall by buying VXX and SPY calls.
4. Oil prices 'crater' more than 6% after Trump bans travel from Europe over coronavirus pandemic. West Texas Intermediate and Brent crude prices slumped on the news.
5. Bitcoin falls past $6,000, leading a cryptocurrency rout as global markets slip on coronavirus concerns. "The short-term outlook for Bitcoin remains bearish, as investors are clearly not looking at Bitcoin as a safe-haven asset."
6. Tesla got hauled in by the Chinese government after it quietly downgraded the chips in some of its Model 3 cars. Local officials directed Tesla executives to fix the problem, Nikkei Asian Review reported.
7. United Airlines borrows $2 billion as coronavirus slams industry. The US airline said it borrowed the funds to weather the coronavirus pandemic, which has led to flight cancellations and international travel bans.
8. Stocks are tanking. In Europe, Germany's DAX slid 7.5%, Britain's FTSE 100 slid 6.8%, and the Euro Stoxx 50 slid 7.7%. In Asia, China's Shanghai Composite fell 1.5%, Hong Kong's Hang Seng fell 3.7%, and Japan's Nikkei slumped 4.4%. US stocks are set to open lower with the Dow Jones Industrial Average, S&P 500, and Nasdaq down about 5% in pre-market trading.
9. Some big earnings are out. Adobe and Oracle are two highlights.
10. Key data is due. Look out for jobless claims and producer price inflation.