As almost every country around the world confirms at least one case of the coronavirus, economists are beginning to illustrate a grimmer picture of the coronavirus fallout for a world that has entered lockdown. During the World Health Organization's press briefing on Friday, Kristalina Georgieva, managing director of the International Monetary Fund issued a bleak address to the suffering member nations.

"Never in the history of the IMF have we witnessed the world economy come to a standstill. This is in my lifetime humanity's darkest hour, a big threat to the whole world and its requires for us to stand united. Be united...This is a crisis like no other...We have never seen ever such a growing demand for emergency financing," Georgieva stated. Georgieva urged countries to use emergency funding to aid their healthcare systems above any other economic need.

"We are all aware of the profound social and economic consequences of the pandemic," WHO Director-General Dr. Tedros Adhanom Ghebreyesus added at the same briefing. "Ultimately the best way for countries to end restrictions and ease their economic effects is to attack the virus.

Total Global Cases: Over 1.09 million

Total Deaths: At Least 58,700

Total Recovered: At Least 228,000

Revisions

World Health Organization officials cautioned during the agency's press conference on Friday that more of the younger population is becoming critically ill around the world than earlier data had projected.

"We are seeing more and more younger individuals who are experiencing severe disease," Dr. Maria Van Kerkhove, head of WHO Emerging Diseases and Zoonosis Unit, stated. " We've seen some data from a number of countries across Europe where people of younger age have died. Some of those individuals have had underlying conditions, but some have not...what we are seeing in some countries is that there are individuals who are in their 30s, who are in their 40s, who are in their 50s, who are in ICU and who have died."

This data comes inline with reports from New York City's health department that about 1 in 5 hospitalization are occurring in people under 44.

Since the outbreak began, officials have cautioned that elderly populations were most at risk of dying from coronavirus. In a interview with Bloomberg News, doctor Kaedrea Jackson of Manhattan's Mount Sinai Morningside Hospital stated that, "So many patients are not fitting the picture that we've been told from China or Italy. This is not just elderly patients; it's anyone."

In addition to officials revising public guidelines surrounding the pandemic, the U.S. Centers for Disease Control and Prevention now recommends that citizens wear a face covering while in public to help aid in the slowing of the spread of this highly contagious virus.

The CDC cautioned that this new recommendation does not replace other social distancing measures, but is an additional public measure.

3M Verus Trump

President Donald Trump said on Friday that he will be invoking the Defense Production Act to ban companies from exporting personal protective gear to other countries. This new order came during a dispute between the president and large manufacturer 3M (MMM  ) over the company's exports of respirator masks while the United States scrambles to make more during a shortage.

However, 3M had warned President Trump that the White House's request for the country to halt exportations could lead to protective gear becoming less available in the United States.

The manufacturer warned that, "ceasing all export of respirators produced in the United States would likely cause other countries to retaliate and do the same, as some have already done. It that were to occur, the net number of respirators being made available to the United States would actually decrease. That is the opposite of what we and the Administration, on behalf of the American people, both seek."

Economic Meltdown

Bank of America (BAC  ) was the first major bank that was able to accept application for the $350 billion small business relief program outlined in the Trump administration's CARE Stimulus Bill. In its first day, the bank had received over 85,000 applicants asking for a collective $22.2 billion in loans.

As more Americans are becoming concerned about their financial future, more disheartening employment data was released by the U.S. Bureau of Labor Statistics on Friday.

According to the jobs report for early March, U.S. nonfarm payrolls dropped by 701,000. Coupled with the almost 10 million Americans that filed for unemployment during the same time period, the first month of the outbreak has casted a bleak outlook on the economy as more and more businesses halt to stop the spread.

Damaged Industry

The U.S. Department of Transportation has ordered U.S. airlines to give customers full refunds on flights that have been cancelled or severely delayed due to the coronavirus outbreak, adding to the massive load of debt the industry has been compiling since the start of the outbreak.

"In recognition of the fact that the COVID-19 public health emergency has had major impacts on the airline industry, the Aviation Enforcement Office will exercise its prosecutorial discretion and provide carries an opportunity to become compliant before taking further action."

Surveillance

Google (GOOGL  ) has launched a new website that uses location data collected from Google products and series to show the level of social distancing taking place around the world.

Called the COVID-19 Community Mobility Reports, Google's website shows population data trends of six categories: retail and recreation, grocery and pharmacy, parks, transit stations, workplaces, and residential ares. Although users will not have a clear number of people within areas, the data will help users gain a better understanding of the social distancing measures being taken within communities.