5 things to start your day

[Bloomberg]( Follow Us //link.mail.bloombergbusiness.com/click/19527326.245864/aHR0cHM6Ly90d2l0dGVyLmNvbS9idXNpbmVzcw/582c8673566a94262a8b49bdB0e6e8303 [Get the newsletter]( Spike in coronavirus cases outside China, markets pummeled as fears rise, Sanders seizes Democratic race. Going global Concerns that the coronavirus outbreak is [becoming a global pandemic]( are rising as new centers of infection outside China emerge. The mortality rate from the pneumonia-causing illness appear to be much higher [in Iran]( [and Italy](, hinting at many undiscovered cases of infection. In China, President Xi Jinping warned that [no effort should be spared]( to contain the outbreak in Beijing, while the annual legislative session has been postponed. An announcement easing the quarantine in Wuhan was withdrawn, with officials saying the [lockdown in the city where the infection started]( will remain in place. Rout Investors are [rushing for safety](. Stock markets around the world are tumbling, with Asian equities falling overnight, Europe’s Stoxx 600 Index [posting its biggest drop since 2016]( and U.S. futures plunging more than 2.5%. The 10-year Treasury yield [is below 1.4%]( and [crude oil futures are slumping](. While industrial commodities are hit, gold is proving to be the big winner from the risk-off move, with the yellow metal coming [close to $1,700 an ounce](. Sponsored Content by Synchrony The Great Big World Of Omnichannel With all the places people are buying, there are so many ways to reach your customers. The challenge is making sure that it all feels integrated — and one of the best ways to do that is through an omnichannel approach. It’s about engaging consumers where they are with experiences that feel relevant to them. That kind of personalization builds trust in your company, a key factor in a shopper’s buying decision. See how an omnichannel strategy can help you reach your customers and continue to grow your business. [Watch How](  Sanders wins Nevada A [commanding win in Nevada for Bernie Sanders]( showed he is building a broad base of support outside his traditional ‘[Bernie Bros](’ base. He won backing from Latinos, African-Americans, union workers, people without college educations and voters up to age 45. His double-digit win over the field, which did not include Michael Bloomberg who [joins the ballot on Super Tuesday](, shows Sanders grabbing votes from all his opponents. (Bloomberg is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.) Prepared to act Finance ministers and central bankers from the [Group of 20 nations]( meeting in the Saudi capital of Riyadh agreed on a “menu of policy options” to counter the coronavirus outbreak. However, the joint statement provided little in the way of [details on a coordinated response](. The manifesto did include a reference to climate change, over U.S. objections. Tax was also an issue, with U.S. Treasury Secretary Steven Mnuchin pushing back against European demands for a global digital tax agreement, saying Congress could [prove a barrier to an accord](. Coming up… It is another quiet day on the economic data front, with the Dallas Fed Manufacturing Index at 10:30 a.m. the only release of note. Cleveland Fed President Loretta Mester is today’s only monetary policy speaker. President Donald Trump is [visiting India](. There’s a busy earnings schedule with HP Inc., Intuit Inc., Hertz Global Holdings Inc., Shake Shack Inc. and Palo Alto Networks Inc. among the many companies reporting. What we've been reading This is what's caught our eye over the weekend. - Odd Lots: The actual [jeweler from Uncut Gems]( explains why people go crazy for gold and diamonds. - Coronavirus may be the “[Disease X](” experts warned about. - Millions of [Chinese firms face collapse]( if banks don’t act. - How strategists and investors [see coronavirus playing out](. - Buffett [extols value of stock bets]( in year without deals. - Central banker [who declared inflation dead]( is now battling it. - How to [deflect an asteroid](. And finally, here’s what Joe's interested in this morning To be honest, I've always been kind of repelled by gold, and the people who promote it. The whole gold scene is filled with folks pumping conspiracy theories, misinformed ideas of how the Fed works, and other assorted flavors of misanthropy. Of course that's not everyone, but it is prevalent. However I'm starting to change my mind, thanks in part to NYC jeweler Maksud Agadjani, who appeared in the movie Uncut Gems, [and who has an Instagram profile where he sells his wares]( in a manner that's nothing like your typical goldbug. You should check it out. Anyway, Maksud [appeared on the latest episode of the Odd Lots podcast](, and one of the questions we asked him is why is it that people go absolutely nuts for gold, diamonds, and other precious things dug out of the earth. He had a great answer. After describing some of the unique properties of gold (and various gems) he pointed out how little there was of it in the world. If you were to give every living person an equal amount of gold, it would just come to a handful of grams each. As such, there's a real zero sumness to it. Not everyone can have it. And if one person has a lot of it, then lots of other people have to have none of it. It's a visual manifestation of status and one's place in the pecking order. Of course this might make people uncomfortable, for obvious reasons. But people have always played these types of games against each other, and they're unlikely to stop. Now I get gold's allure and why it will probably endure, and that story is far more compelling than someone raving about hyperinflation or the Federal Reserve balance sheet. So if you're interested in any aspect of the business or the movie itself, [you should definitely listen to the podcast](. 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