1. Dow set to give up nearly all its 2020 gains at open

Traders work on the floor of the New York Stock Exchange, January 27, 2020.
Spencer Platt

U.S. stock futures were sharply lower Thursday, as world markets were under pressure on concerns about the widening coronavirus outbreak. The Dow Jones Industrial Average was set to drop about 200 points at Wall Street's open, giving up nearly all of its remaining 2020 gains. On Wednesday, the Dow closed up just 11 points after trading some 220-points higher earlier in the session. The government on Thursday morning said its first look at fourth-quarter gross domestic product showed growth of 2.1%, matching estimates, and closed out a year that saw GDP decelerate to its slowest pace in three years. The numbers came one day after the Federal Reserve kept interest rates steady and struck an upbeat tone on the health of the U.S. economy.

2. Death toll from coronavirus outbreak rises along with confirmed cases

Passengers wear face masks to protect against the spread of the Coronavirus as they arrive on a flight from Asia at Los Angeles International Airport, California, on January 29, 2020.
Mark Ralston | AFP | Getty Images

Chinese health officials said the coronavirus death toll rose to 170 as confirmed cases in China increased to more than 7,700. To help contain the spread, Russia closed border crossings with China. India and the Philippines reported their first cases. The U.S. State Department said Thursday that more evacuation flights for Americans from the Chinese city of Wuhan, the epic-center of the virus, are set for Monday. The new coronavirus has now infected more people in China than were sickened there during the 2002-2003 SARS outbreak. Severe acute respiratory syndrome killed 774 people.