The stock market ended its worst week since the financial crisis, prompting the Fed to release a statement. Meanwhile, the WHO warned that countries are losing their chance to contain the novel coronavirus and raised its global risk assessment to "very high" Friday.

The big picture: COVID-19 has killed more than 2,860 people and infected more than 84,000 others in over 60 countries and territories outside the epicenter in mainland China. The number of new cases reported outside China now exceed those inside the country.

A new case of the novel coronavirus in California was announced on Friday after Gov. Gavin Newsom said Thursday that 33 people had tested positive for the virus, noting the risk to the public remains low.

What's new: An adult woman with chronic health conditions in Santa Clara County who "did not recently travel overseas" or come into contact with anyone known to be ill was confirmed to have contracted the coronavirus on Friday by CDC and California Department of Public Health officials.

The stock markets are in bad shape, but for the millions of Americans who aren’t invested in stocks, coronavirus is presenting a far more imminent concern.

Why it matters: Quarantines usually work with at least 90% participation, but many Americans lack the flexibility to work remotely, take a sick day or absorb having schools close.

The World Health Organization raised its global risk assessment for the novel coronavirus to "very high" Friday, its highest risk level as countries struggle with containing spread of the virus.

The big picture: This week, director-general Tedros Adhanom Ghebreyesus emphasized how countries' responses can make or break the chances of preventing more cases. Today, he said the alert "is a reality check for every government. ... The window of opportunity is closing. Wake up."

Go deeper: Full coverage of the coronavirus

Soccer leagues across Europe are reacting differently as the coronavirus spreads, from canceling games to playing in closed-door arenas.

The state of play: The Premier League said it is following advice from the government and has not canceled any of the upcoming games yet. Journalists are being asked about their recent whereabouts prior to a pre-match news conference with Arsenal manager Mikel Arteta, AP writes. Newcastle manager Steve Bruce said players are not greeting each other via handshake anymore, as a precaution.

Guggenheim Partners global CIO Scott Minerd tells Axios the fallout from the coronavirus outbreak could be "worse than the financial crisis."

Why it matters: Minerd called out the "cognitive dissonance" in markets as stock prices hit new all-time highs in mid-February, saying in an open letter that he had never "seen anything as crazy as what’s going on right now."

We're failing to address seniors' social isolation, a serious public health threat, according to a new report by the National Academies of Sciences, Engineering and Medicine.

Details: The report concluded that almost a quarter of Americans 65 and older who live in community settings have few relationships or infrequent social contact, the Wall Street Journal reports.

A government whistleblower says the Department of Health and Human Services sent more than a dozen federal health workers to receive the first American evacuees from China amid the coronavirus outbreak without proper medical training or ample protective gear, the Washington Post first reported.

What they're saying: The whistleblower's complaint filed Wednesday alleges that employees were "not properly trained or equipped to operate in a public health emergency situation," potentially exposing them to the novel coronavirus.

Brazil's health ministry confirmed the first novel coronavirus case in Latin America Wednesday — a 61-year-old that tested positive after returning from a visit to northern Italy, the epicenter of Europe's outbreak.

Why it matters: The case comes in the midst of Carnival, a peak time for domestic travel that draws millions of revelers in major cities. Brazil is tracking 20 suspected cases of the virus in the country, according to health officials.

Go deeper: Follow Axios' full coverage of the oronavirus

The fate of the Tokyo Olympics is expected to be decided within the next three months amid fears surrounding the spread of the novel coronavirus, International Olympic Committee member Dick Pound told the Associated Press in an interview on Tuesday.

The state of play: The games are on as of now, but the committee's final decision will depend on discussions with the World Health Organization, Pound said. The Olympics are set to bring roughly 11,000 athletes to Tokyo, with the event scheduled to begin on July 24. Another 4,400 athletes will arrive in Japan for the Paralympics set to start on Aug. 25.