The worst session since Black Monday in 1987. The Dow sheds another 10% as the Fed's $1.5 tn cash injection fails to stem the declines. But US futures turn cautiously higher and Asian stocks come off session lows. In Europe, ECB President Christine Lagarde tells CNBC exclusively that fiscal policy should be the first front in the fight against the outbreak. Lagarde also rejects President Trump's branding of COVID-19 as a 'foreign virus'. France becomes the latest European country to shut schools, as President Emmanuel Macron pledges to do “whatever it costs” to prop up the economy against the virus outbreak. Airline shares across the world plunge deep into the red on the U.S.’s TransAtlantic travel ban, with European leaders pledging to support the region's hardest hit carriers.

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