CNBC Asia

Stocks in Asia dropped on Friday as volatility continued to grip the markets amid investor concerns over the global coronavirus outbreak.

The U.S. Federal Reserve lowered its benchmark rate by 50 basis points this week — and investors are expecting more.

New York Gov. Andrew Cuomo is holding a press conference Thursday to update the public on the COVID-19 outbreak.

"This is not a drill. This is not the time to give up. This is not a time for excuses. This is a time to pull out all the stops," WHO's top official said.

The organization has yet to classify the virus as a pandemic and has maintained that its attention is on containing the spread.

Iran's health minister says authorities will begin manning checkpoints to limit travel between major cities amid the virus outbreak, the Associated Press reported.

Ant Financial has invested in Swedish financial technology start-up Klarna as part of a global e-commerce partnership between the two firms.

Singapore has confirmed 112 cases of the coronavirus disease, of which 79 have been discharged from hospitals, according to the country's Ministry of Health.

The Dow Jones Industrial Average soared more than 1,000 points overnight stateside, while the International Monetary Fund also announced a $50 billion aid package on Wednesday to combat the impact of the coronavirus.

The coronavirus has taken a toll on Thailand's tourism sector, which accounts for a significant proportion of the country's economy. In a note from dated Feb. 17, analysts at Fitch Solutions said tourism receipts "account for 13-14% of Thailand'seconomy and the sector provides around one-in-six jobs."

As of Wednesday, more than 95,000 cases of coronavirus have been reported, resulting in at least 3,250 deaths.

Businesswoman Bian Jingjing has a message about the coronavirus to the world: be more prepared.

World health officials say the death rate for COVID-19 is 3.4% globally, higher than previous estimates of about 2%.

Researchers in China have found that two different types of the new coronavirus could be causing infections worldwide.

Friday prayers in Iran have been canceled across all provincial capitals amid the country's growing coronavirus outbreak, state television said, according to an AP report.

There's not much monetary policy can do to save the global economy — especially when some major central banks have already cut interest rates into the negative territory, economists say.

The Fed cut rates by half a percentage point two weeks ahead of its scheduled meeting, due to the "evolving risks to economic activity" posed by the coronavirus.

Demand for hand sanitizer is surging around the globe as the new coronavirus spreads, prompting retailers to ration supplies and online vendors to hike prices.

As of Tuesday, more than 91,300 cases of coronavirus have been reported, resulting in at least 3,110 deaths.

The WHO estimates that each month 89 million medical masks will be required for the COVID-19 response.