Marcio Jose Sanchez / AP

Tesla CEO Elon Musk expressed his dismay over President Trump's refugee ban on Sunday, arguing on Twitter that a blanket ban "is not the best way to address the country's challenges." He also pledged to solicit amendments to the order from fellow CEOs on the President's Strategic and Policy Forum, and present those to the president.

European markets fear Marine Le Pen

A closely watched measure of market expectations is showing European investors bracing for a spike in stock-price volatility right around the first round of French presidential elections in April. Though experts believe that anti-immigrant, populist Marine Le Pen is a longshot, market participants aren't taking any chances.

Feeling the pinch of the border tax

The Wall Street Journal quotes Katherine Gold, chief executive of a 100-employee distributor of children's shoes and accessories, saying that the planned reform would, "put us out of business if we can't pass on [the tax to customers] immediately." Importers like Gold would owe much more tax under the Republican reform plan, which hopes to benefit companies that employ Americans, rather than foreigners. Expect to hear more such stories as tax reform heats up.

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Updated 2 hours ago - World

Pandemic plunges U.K. into "largest recession on record"

The scene near the Royal Exchange and the Bank of England in the City of London, England. Photo: Tolga Akmen/AFP via Getty Images

The United Kingdom slumped into recession as its gross domestic product GDP shrank 20.4% compared with the first three months of the year, the Office of National Statistics (ONS) confirmed Wednesday.

Why it matters: Per an ONS statement, "It is clear that the U.K. is in the largest recession on record." The U.K. has faired worse than any other major European economy from coronavirus lockdowns, Bloomberg notes. And finance minister Rishi Sunak warns the situation is likely to worsen.

Updated 2 hours ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

The United Kingdom slumped into recession on Wednesday, as its gross domestic product GDP shrank 20.4% compared with the first three months of the year.

By the numbers: Over 741,400 people have died of the novel coronavirus globally and more than 20.2 million have tested positive, per Johns Hopkins. Almost 12.6 million have recovered from the virus.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 20,294,091 — Total deaths: 741,420— Total recoveries: 12,591,454Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 5,141,207 — Total deaths: 164,537 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. States: Georgia reports 137 coronavirus deaths, setting new daily record Florida reports another daily record for deaths.
  4. Health care: Trump administration buys 100 million doses of Moderna's coronavirus vaccine.
  5. Business: Moderna reveals it may not hold patent rights for vaccine.
  6. Sports: Big Ten scraps fall football season.
  7. World: Anthony Fauci "seriously" doubts Russia's coronavirus vaccine is safe