There is major news unfolding as we come on on several fronts when it comes to the Corona virus here in the US tonight.

States of emergency in place across several states.

Now some members of Congress in self quarantine, some of whom came into contact with the president.

And tonight, this staggering loss on Wall Street, the Dow falling a record 2000 points, the biggest one day point drop ever, and some economists now warning this could send the economy into a recession.

The plunge so steep of the opening bell it triggered a circuit breaker to halt trading, the first time that's happened in 23 years.

There are now cases in atleast 36 states and the District of Columbia.

Three more states added, just today, at least nine states declaring states of emergency.

And tonight thousands more are about to enter quarantine, as that cruise ship, held at sea for days with sick people on board has now been allowed to dock in Oakland, California where are the sick being taken, and then the thousands of passengers who will now be tested and taken to four locations here in the U.

S.

For quarantine.

We will carefully take you through all of this tonight, and we begin with that dive on Wall Street.

The market's concerned over the virus, spreading the response and significant concern tonight over oil prices.

ABC is chief business correspondent Rebecca Jarvis from Wall Street tonight.

Tonight, uncertainty over the Corona virus causing a free fall on Wall Street.

The Dow experiencing its largest point drop in history and the worst percentage loss since the Great recession.

The New York Stock Exchange opening with smiles and elbow bumps instead of handshakes.

But within minutes, stocks halted after plunging more than 7% hitting so called circuit breakers a safety mechanism meant to keep the markets from taking a nosedive.

But you're down 7%.

You got a 15 minute hold at the forefront.

Uncertainty surrounding the Corona virus.

The effect of this virus is very broad, based on doing a lot of damage to the broader economy.

Those concerns, exacerbated by a price war in oil, set off over the weekend when Saudi Arabia cut prices the move sending US oil plunging 25% to $31 a barrel, potentially eating into profits of energy producers, which employs 6.7 million Americans.

Other hard hit industries, including airlines and cruises.

With so many now limiting travel, the largest tech companies, including Apple, Microsoft, Google, Facebook and Amazon, wiping out more than $320 billion in value, a number of analysts now concerned without fiscal stimulus, we could be headed for a recession if we're going into recession were probably there now probably started this month.

Alarming words today from some of those economists who predict a recession.

And, as you just heard, there's Rebecca reported, perhaps entering one right now.

She is live on Wall Street tonight and perfected.

The White House is now calling bank executives in CEOs to the White House for a meeting on all of this.

Yes, that's right, David.

The president is set to meet with those bank CEOs on Wednesday afternoon as the White House contemplates potential economic stimulus to help avert a crisis, including paid family leave for workers who have been quarantined and school closings.

David Becker, Jarvis leading us off on this Monday night.

Rebecca.

Thank you.

Hi, everyone George Stephanopoulos here.

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