Coronavirus live updates: Dow caps worst week since financial crisis, California health officials say new case is evidence of community transmission

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All times below are in Beijing time.

Stocks tumbled once again on Friday, capping off their worst week since the financial crisis, as worries over the coronavirus and its impact on the economy continue to rattle investor sentiment. The Dow Jones Industrial Average dropped 357.28 points, or more than 1%, to 25,409.36. The 30-stock Dow briefly fell more than 1,000 points then rallied into the close in a wild trading session characteristic of the week. The S&P 500 slid 0.8% to 2,954.22. The Nasdaq Composite closed flat at 8,567.37 but fell as much as 3.5% on the day. For the week, the Dow fell more than 12% — its biggest weekly percentage loss since 2008. On a points basis, the Dow fell more than 3,500 points, far and away its largest weekly point loss ever. It also ended the week in correction territory, down 14.1% from an intraday record high set Feb. 12. —Imbert, Huang

has decided to postpone its investor day which was scheduled for next week given the uncertainty the coronavirus outbreak has created on booking and revenue projections. Earlier this week United pulled its 2020 guidance to the uncertainty created by Coronavirus. United shares were down Friday as airlines continued their sharp declines of the week as worries of a demand rattles investors. United also cut its Asia service amid a sharp drop in demand to the region. —LeBeau

The State Department on Friday asked citizens to “reconsider travel to Italy” due to the coronavirus outbreak. “Many cases of COVID-19 have been associated with travel to or from mainland China or close contact with a travel-related case, but sustained community spread has been reported in Italy,’ the State Department advisory said. “Sustained community spread means that people have been infected with the virus, but how or where they became infected is not known, and the spread is ongoing. At this time, CDC recommends avoiding non-essential travel to Italy.” —Bhattacharjee

The Santa Clara Public Health Department announced a third case of coronavirus in the county, which brings the total number of coronavirus cases in California to 10 and the total number of cases in the U.S. to 63, most of which are passengers of the Diamond Princess cruise ship and evacuees from Wuhan, China. County Officials will hold a press conference at 7 p.m. ET to discuss more details. The county said this case is different from the other two since the patient, an elderly woman, doesn’t have a travel history or any known contact with a traveler or infected person. “This new case indicates that there is evidence of community transmission but the extent is still not clear,” said Dr. Sara Cody, Health Officer for Santa Clara County and Director of the County of Santa Clara Public Health Department. “I understand this may be concerning to hear, but this is what we have been preparing for. Now we need to start taking additional actions to slow down the spread of the disease.” —Bhattacharjee

In any virus outbreak, there is sure to be plenty of misinformation that circulates, but it usually isn’t about beer. Constellation Brands, which sells Corona Extra beer, put out a press release Friday that said any worries about its beer sales are “unfounded.” In fact, the brand’s sales are up 5% for the four weeks ended Feb. 16, outpacing its trend over the past year. Earlier, ad agency 5WPR said it polled 737 people over the phone and found 16% were confused about whether Corona beer was some somehow related to the novel coronavirus. “We’ve seen no impact to our people, facilities or operations and our business continues to perform very well,” the company said, adding it doesn’t have much exposure to international markets. —Cheddar Berk

Read CNBC’s coverage from CNBC’S U.S. team overnight here: Fears fuel sell-off, new California case, United postpones investor day.

— CNBC’s Fred Imbert, Eustance Huang, Phil LeBeau, Riya Bhattacharjee, Christina Cheddar-Berk, Berkeley Lovelace Jr., William Feuer, Noah Higgins-Dunn and Reuters contributed to this report.