The World Health Organization has named the illness COVID-19, referring to its origin late last year and the coronavirus that causes it, AP reported.

The deepening health crisis became an economic one too Friday, with the virus outbreak sapping financial markets, emptying shops and businesses, and putting major sites and events off-limits.

As the list of countries hit by the illness edged toward 60 with Belarus, Lithuania, New Zealand, Nigeria, Azerbaijan, and the Netherlands reporting their first cases, the threats to livelihoods were increasingly eyed as warily as the threats to lives.

Investors watched warily as stocks fell across Asia and girded to see if Wall Street’s brutal run would continue, while businesses both small and large saw weakness and people felt it in their wallets.

Korea cases top 2,000; Nigeria confirms infection

Globally, more than 83,000 people have fallen ill with the coronavirus. China, though hardest hit, has seen lower numbers of new infections, with 327 additional cases reported Friday, bringing the country’s total to 78,824. Another 44 people died there for a total of 2,788.

South Korea has recorded 2,337 cases, the most outside of China. Emerging clusters in Italy and in Iran, which has had 34 deaths and 388 cases, have in turn led to infections of people in other countries.

Japan is closing schools to limit the spread of the outbreak. New cases continue to appear outside of China with New Zealand and Lithuania reporting their first infections. Nigeria confirmed its first case, the first reported in sub-Saharan Africa, Bloomberg reported.

Equity markets in Hong Kong, Japan, and Australia all tumbled.

The US health authorities moved to greatly expand the number of people who will be tested, adding travelers from several new countries and people with unexplained, severe respiratory illnesses.

California has monitored 8,400 people for signs of the virus after they traveled to Asia. The virus has spread “very slowly” in the US, President Donald Trump said in a tweet.

Trump seeks a ‘miracle’

CNN on Friday wrote that Trump is hoping for a “miracle” that will make the coronavirus disappear but tanking stock markets and signs the disease is stalking America are delivering their verdict on his scattershot management of the crisis.

A historic Wall Street sell-off, the first case on US soil that could not be traced to travel to countries battling the virus, and news of drug shortages outpaced White House efforts to show everything was under control.

“It’s going to disappear. One day it’s like a miracle, it will disappear,” Trump said at the White House Thursday as the virus marched across Asia and Europe after US officials said the US should brace for severe disruption to everyday life.

The president also warned that things could “get worse before it gets better,” but he added it could “maybe go away. We’ll see what happens. Nobody really knows.”

The president’s comments, which seemed divorced from the gravity of the situation, followed CNN reporting that raised new questions about Trump’s capacity to handle the crisis.

Thousands of people around the US have been asked to self-isolate or check themselves for symptoms since the US put new limits on travel earlier this month. Those people are scattered across 49 local jurisdictions, he said. There have been 33 people confirmed to be infected with the virus in California.

For weeks, aides and allies have tried to impress upon him the seriousness of the coronavirus situation, warning him of the threat to the global economy and – by proxy –his own reelection prospects, according to people familiar with the conversations.

Devastating losses in Wall Street that finally convinced him to put a face on the crisis on Wednesday. But his erratic news conference only fanned the impression of a leadership vacuum.

Italy virus cases rise to 528

Total cases increased from the 400 reported late Wednesday, civil protection head and emergency chief Angelo Borrelli said. Forty people have recovered. The number of possible virus-linked deaths reached 14.

Virus makes profit uncertain

British Airways parent IAG SA said the spread of the coronavirus made it impossible to predict earnings this year, as demand weakens in Asia and Europe and companies cut back on businesses travel across the globe.

The airline group, which also includes Spain’s Iberia and Aer Lingus of Ireland, said it will reduce capacity by 1% to 2% this year, as industry events are canceled and companies impose restrictions on travel.

About 1,000 quarantined in Germany

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An estimated 1,000 people are isolated in the German district of Heinsberg in North Rhine-Westphalia after an outbreak in the region, German newspaper Bild reported.

Sweden reports five new cases

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Five new cases have been confirmed in Sweden, the country’s Public Health Agency said in a statement. That brings the total confirmed cases in the country to seven.

Virus may impact the UK economy

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The Bank of England’s Mark Carney said the virus could result in an economic-growth downgrade for the UK, Sky News reported, citing an interview with the central bank governor. Carney said the bank has already seen a drop in activity, though it’s too early to tell how badly the UK would be affected.

Impact of virus in Singapore

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All political-office holders in Singapore will take a one-month salary cut in light of the coronavirus outbreak, CNA reported, citing comments from the country’s Deputy Prime Minister Heng Swee Keat. The government’s actions follow recent moves by some of Singapore’s top companies to freeze pay and cut bonuses as the country attempts to combat the impact of the virus.

UAE cancels rest of cycling tour

The United Arab Emirates has decided to scrap the remaining rounds of the 2020 UAE Tour after two Italian team members tested positive for the coronavirus.

All remaining participants, organizers and administrative staff will be screened and some quarantined, according to the state-run Emirates News Agency. Other people who were in contact with the two cyclists will also be placed under observation.

Japan needs $45 b of extra spending

An adviser to Prime Minister Shinzo Abe said Japan should compile another economic package with fresh spending of at least 5 trillion yen ($45 billion) to respond to a severe hit from the coronavirus outbreak.

“We should take it very seriously that this is terrible timing, coming right after the sales tax hike,” Etsuro Honda, one of the key architects of Abenomics, said in an interview. “The impact could be devastating in the short term.”

FDA confirms first drug shortage

The Food and Drug Administration confirmed the first drug shortage relating to the coronavirus, Commissioner Stephen Hahn said in a statement. The announcement didn’t name the manufacturer but said “there are other alternatives that can be used by patients.” The shortage is due to an active ingredient used to make the drug, the FDA said.