Axios

A member of the Office of the Vice President has tested positive for the coronavirus, Katie Miller, Pence's press secretary, said Friday evening.

What she's saying: "Neither President Trump nor Vice President Pence had close contact with the individual. Further contact tracing is being conducted in accordance with CDC guidelines," Miller said in a statement.

Non-essential businesses in Connecticut must close at 8 p.m. on Monday to combat the novel coronavirus through social distancing, Connecticut Gov. Ned Lamont and state officials said on Friday.

What he's saying: "Don't open your retail store unless you're involved in some essential service, like food, grocery stores, or health care as in pharmacies, fuel as in gas stations. I want to see all the rest of those non-essential services closed. Closed for at least a few weeks or for the foreseeable future," Lamont said. Businesses could face civil fines if they remain open.

U.S. industries and organizations are asking for over a trillion dollars in bailouts as states, cities, and counties direct residents to stay home to combat the spread of the novel coronavirus.

Driving the news: The National Governors Association asked Congress for $150 billion in aid on Friday to handle rising unemployment and business closures as states combat the virus with mandated social distancing.

Illinois residents in the state will be subject to a stay-at-home order from 5 p.m. on Saturday until the end of April 7, Illinois Gov. J.B. Pritzker announced on Friday.

Why it matters: Five deaths from COVID-19 have been reported in the state, per the Illinois health department, with 585 confirmed cases as of Friday — 163 more than Thursday. Most recorded cases are currently in Chicago and surrounding counties.

Stocks closed more than 4% lower on Friday, with the S&P 500 shedding 4.3%, the Dow dropping 4.6% (or 927 points), and the Nasdaq falling 3.7%.

Why it matters: It caps a bruising week for Wall Street — you'd have to go back to 2008 to see worse losses — as the coronavirus outbreak forces more of the world's biggest economies to shut down.

Despite what you've heard from congressional Republicans over the last decade, there's no limit to how much the government can spend — and that'll become evident as the federal government prepares its "phase three" coronavirus stimulus package.

Why it matters: U.S. government spending is about to skyrocket, with checks going out to individuals, loans being handed to companies and other attempts to stanch the coming economic pain.

Secretary of State Mike Pompeo announced at a White House briefing Friday that the U.S.-Mexico border will close to all non-essential travel for at least the next 30 days.

The big picture: The news comes just days after President Trump announced a similar closure of the U.S.-Canada border, though both measures still allow trade and workers to cross. The announcement also follows an indefinite State Department warning for Americans to avoid all international travel.

New York Gov. Andrew Cuomo (D) announced Friday that the state's entire workforce must stay home amid the coronavirus outbreak — except for those who work in essential services like grocery stores, banks and pharmacies.

Why it matters: With an uptick in testing and community spread, New York now has over 7,000 confirmed coronavirus cases — far surpassing any other state. Cuomo said that the new provisions "are not helpful hints" and will be enforced with "a civil fine and mandatory closure for any business that is not in compliance."

The coronavirus epidemic has reshaped local economies across the country, as consumers respond to social distancing recommendations and business closures, a report by Yelp out Friday indicates.

What's happening: In just a week, consumer interest has shifted away from dine-in restaurants and nightlife, and toward interest in buying guns, booze and water.

Senate Intelligence Chairman Richard Burr (R-N.C.) asked the Senate Ethics Committee on Friday to review his recent stock sell-offs.

What he's saying: Burr claimed that the trades, which came before the market crashed amid coronavirus fears, occurred because he "closely followed CNBC's daily health and science reporting out of its Asia bureaus at the time."

Airbnb may not be through with the private markets after all, as CNBC reports that the room rental giant is fielding offers from large investment firms, although pricing remains unclear.

Why it matters: 2020 was supposed to be the year that Airbnb went public, either through an IPO or a direct listing (or a combination of the two).

Joe Biden called on CEOs on Friday to make a commitment against stock buybacks, as the country deals with the coronavirus pandemic.

Why it matters: The demand comes as an increasing number of industries have called for economic relief from the effects of the pandemic. Companies in many of those industries have come under fire for using extra funds from tax relief to repurchase their own shares in recent years.

Yelp announced Friday a program that will provide $25 million, primarily in the form of free advertising, to small businesses that make it through the coronavirus pandemic.

Why it matters: Small businesses have been hit especially hard amid the near shutdown of public life — but so, most likely, have companies like Yelp that depend on such businesses.

American sports leagues have become increasingly global over the last couple decades, which is inarguably a boon to business and fans alike.

Why it matters: The global nature of American professional sports represents our shrinking world, increased diversity and the melting pot of cultures that this country was built on, but right now, as with everything else, it's hard not to look at this through the lens of the coronavirus.

Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, told NBC's "Today" on Friday that Americans should expect to be home for "at least several weeks" amid the coronavirus outbreak.

The big picture: The White House had previously recommended that its guidelines for avoiding groups of more than 10 people, issued earlier this week, be in place for 15 days. Fauci's statement indicates that such stricter measures will be necessary longer than that.

Days like these can demand the comfort of a sports bar, but even those are shut down in many cities.

Axios spoke with two sports bar owners on opposite coasts about how they're navigating these uncertain times.

Tesla said it has enough resources to deal with an "extended period of uncertainty" as the electric automaker announced it will suspend production at its California factory.

Why it matters: Tesla can't be untethered from the future of electric vehicles, especially not in the U.S., where it dominates sales and plays a big role in pushing the sector closer to the mainstream.

The number of Americans filing for unemployment benefits jumped to its highest level in two years for the week ending March 14, but that was nothing compared to the absolutely historic wave of job losses economists see coming.

The state of play: Goldman Sachs predicts that more than 2 million Americans will file for unemployment claims by next week, pointing to "an unprecedented surge in layoffs this week."

The demographics, work patterns and media habits of President Trump's base are putting many of his supporters at elevated risk for the health and economic impacts of coronavirus.

Why it matters: National surveys, including the Axios-Ipsos Coronavirus Index, found that Republicans and Midwesterners have been more likely to respond with less urgency than Americans who identify as Democrats or live in coastal centers.

Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, took part in a livestreamed interview Thursday with Facebook CEO Mark Zuckerberg — and pleaded with young people to take coronavirus prevention seriously.

What he said: "Please understand that you will play a major role in ultimately containing this infection by not being careless and avoiding and not listening to the recommendations of physical separation."

Despite being the world's largest economy and having a private health care system that politicians routinely call "the best in the world," the U.S. lags badly among industrialized countries in terms of the number of doctors.

The state of play: The U.S. is 25th in the number of doctors among OECD countries and has the third-lowest number of doctors among countries that have 1,000 confirmed cases of COVID-19.

A loophole in the new coronavirus response legislation that President Trump signed into law this week exposes some patients to being billed for coronavirus tests — despite lawmakers' claims that the tests are free for everyone.

Details: The law says tests that have received FDA authorization must be free, but seems to leave out those tests that are awaiting or don't need such emergency approval.

The Trump administration is taking a very public interest in chloroquine, an old, cheap anti-malarial drug, as a potential coronavirus treatment, although it's way too soon to put much stock in its effectiveness.

What they're saying: The Food and Drug Administration is investigating whether the drug can reduce the duration of patients' symptoms in mild to moderate cases, or to reduce "viral shedding," which helps prevent disease spread.

On the next episode of "Axios on HBO," national political reporter Jonathan Swan asks China’s Ambassador to the U.S. Cui Tiankai whether the Chinese Communist Party wanted to apologize for its initial "cover up" of the coronavirus. Catch the full interview on Sunday, March 22 at 6 p.m. ET/PT on all HBO platforms.

Automakers and their parts suppliers are offering to produce desperately needed ventilators to keep coronavirus patients alive, but quickly retooling industrial factories to make precision medical equipment might not be feasible, despite the good intentions.

Why it matters: The U.S. faces a critical shortage of medical equipment to fight the disease, including ventilators that help patients breathe as well as protective gear, such as masks, gloves and gowns, for health care workers.

There's no such thing as being too early. That's the big lesson from the COVID-19 crisis: The risks of overreacting are minuscule compared with the risks of waiting to see how bad things get before you act.

Why it matters: The U.S. is already suffering from waiting too long to prepare itself for the medical emergency.

Hospitals around the country are running out of medical masks and other protective gear, and health care workers are taking desperate steps to protect themselves from exposure to the novel coronavirus.

Why it matters: Keeping doctors, nurses and other providers healthy and able to work is central to America's ability to manage the crush of patients expected to flood hospitals in coming days.

Nearly 40 million people in California are now required to a stay at home to curb the spread of the novel coronavirus, according to a Thursday evening order from Gov. Gavin Newsom.

Why it matters: This is the first statewide order of its kind in the U.S. since the coronavirus outbreak began.

Haiti reported its first two cases of the novel coronavirus on Thursday, President Jovenel Moise announced in a press conference, per multiple reports.

Why it matters: There is only one doctor or nurse per 3,000 people in the country, the World Health Organization found in 2016 — and Haiti's spending in the public health sector "is among the lowest in the world." Haiti is the poorest country in the Western hemisphere, per the CIA World Factbook.

Pennsylvania Gov. Tom Wolf issued an executive order on Thursday mandating the closure of all non-life-sustaining businesses in the state to curb the spread of the novel coronavirus, per a statement.

Where it stands: The order's enforcement will begin Saturday. Municipalities and states across the U.S. have been close down non-essential businesses to minimize person-to-person contact with COVID-19 on the rise.