It was a wild day to end an historically bad week for Wall Street. In fact, it was the worst week for the market since the financial crisis. Here's what happened:

5:30 pm: A $3 trillion wipeout in one week

Five days and more than $3 trillion lost. This week has been one for the history books. The coronavirus wiped $3.18 trillion in market value from U.S. stocks this week, according to estimates from S&P Dow Jones Indices. Investors also witnessed the fastest market correction on record, as the S&P 500 took just six sessions to fall more than 10% from a peak.— Li

5:05 pm: Trump says he hopes the Fed gets involved 'soon' to battle coronavirus

President Donald Trump said he hopes the Federal Reserve will help deal with ramifications from the coronavirus impact on the stock market and the economy. "I hope the Fed gets involved, and I hope they get involved soon," Trump said during a scrum with reporters late Friday afternoon. The markets have priced in a 50 basis point rate reduction at the Fed's March meeting.— Li

4:29 pm: Friday's sell-off by the numbers

US Composite Volume: 14.3 billion shares have traded today

-SPDR S&P 500 (SPY) has traded 378.1 million shares so far today, more than quadruple its 30-day average

-SPDR S&P 500 (SPY) has traded 378.1 million shares so far today, more than quadruple its 30-day average Declining stocks outpaced Advancing stocks 2,306 to 715 or more than 3 to 1 on the NYSE

-Declining stocks outpaced Advancing stocks 2,187 to 1,124 or almost 2 to 1 on the NASDAQ

-Declining stocks outpaced Advancing stocks 2,187 to 1,124 or almost 2 to 1 on the NASDAQ S&P closed down -0.82% for its seventh straight negative day for the first time since Oct 11, 2018 and its 7-day losing streak

-WTD: S&P closed down -11.49% for its worst week since Oct 10, 2008 when the S&P lost -18.2%

-MTD: S&P closed down -8.41% MTD for its worst month since Dec 2018 when the S&P lost -9.18%

-YTD: S&P is down -8.56% YTD

From Record: S&P is 12.95% its intraday all-time high of 3,393.52 from Feb 19 closing in correction levels

-WTD: S&P closed down -11.49% for its worst week since Oct 10, 2008 when the S&P lost -18.2% -MTD: S&P closed down -8.41% MTD for its worst month since Dec 2018 when the S&P lost -9.18% -YTD: S&P is down -8.56% YTD From Record: S&P is 12.95% its intraday all-time high of 3,393.52 from Feb 19 closing in correction levels Dow closed down -1.39% for its seventh straight daily loss and its 10th negative day in 11

-WTD: Dow closed down -12.36% for its worst week since Oct 10, 2008 when the Dow lost -18.15%

WTD Dow lost -3,583.05 for its worst weekly point loss in history

-YTD: Dow is down -10.96% YTD

From Record: Dow is 14.07% below its intraday all-time high of 29,568.57 from Feb 12 closing in correction levels

straight daily loss and its 10th negative day in 11 -WTD: Dow closed down -12.36% for its worst week since Oct 10, 2008 when the Dow lost -18.15% WTD Dow lost -3,583.05 for its worst weekly point loss in history -YTD: Dow is down -10.96% YTD From Record: Dow is 14.07% below its intraday all-time high of 29,568.57 from Feb 12 closing in correction levels NASDAQ closed up 0.01% for its second positive day in 3

NASDAQ dipped below its 200-day level of 8,392.14 for the first time since Oct 3

-WTD: NASDAQ closed down -10.54% WTD on pace for its worst week since Oct 10, 2008

-MTD: NASDAQ closed down -6.38% for its worst month since May when the NAS lost -7.93%

-YTD: NASDAQ is down -4.52% YTD

From Record: NASDAQ is 12.92% from its intraday all-time high of 9,838.37 from Feb 19 — Francolla

4:14 pm: Seven Dow stocks end the day positive

Seven stocks in the Dow Jones Industrial Average ended Friday in positive territory. Exxom Mobil ended the day up 3.3%, Microsoft rose 2.4%, and Dow Chemical ticked 2.2% higher on Friday. Nike rose 1.2%, Visa jumped nearly 1% and Caterpillar and UnitedHealth each rose less than 1% on Friday. All seven stocks were still negative for the week. —Fitzgerald

4:01 pm: Stocks have worst week since the financial crisis, Dow drops 350 points

Stocks ended the day sharply down, solidifying the worst one-week decline since the 2008 financial crisis. The Dow Jones Industrial Average cratered 356 points, bringing its weekly loss total to more than 3,500. Major averages closed in correction territory, down at least 10% since their most recent high. The Dow is 14% off its recent high, the S&P 500 is down 12%. If there was anything positive to come out of today, it was that markets closed well off their lows. The Dow rallied in the final minutes of trading. At one point, it was down 1,085 points. Traders buying late were likely banking on some sort of central bank or government response over the weekend. —Fitzgerald

3:30 pm: Trump administration entertaining tax cuts to combat economic impact of virus, Washington Post reports

The Washington Post said Friday the Trump administration is discussing tax cuts, among other economic reactions, as one option to make up for the economic impact of the coronavirus, according to people familiar with the matter. Other ideas were to lean harder on the Federal Reserve to lower interest rates, according to the report. President Trump has previously been critical of Fed Chair Powell and the central bank's approach to cutting rates. —Fitzgerald

2:57 pm: BNY Mellon hasn't told clients to buy the dip, the firm's strategist says

Jeff Mortimer of BNY Mellon Wealth Management said Friday afternoon that his firm has not told clients to change their asset allocations as the market sells off, but that the bank may do so soon. Mortimer said he does not think his clients, who are typically high net-worth individuals or funds such as endowments, are more worried during this sell-off than in previous ones. "I'm trying to wrestle and help clients understand in the heat of battle it's never fun, but making mistakes in here can be costly to your overall worth, overall return patterns over time," Mortimer said. — Pound

2:53 pm: Final hour of trading: Stocks tumble once again to cap off week of massive losses

With roughly one hour left in the trading session, the major U.S. stock averages traded sharply lower as investors keep getting rattled by coronavirus fears. The Dow slid more than 550 points. The S&P 500 and Nasdaq dropped 1.6% and 0.9%, respectively. Both the Dow and the S&P 500 were headed for their biggest one week loss since the financial crisis, falling more than 12% each. Stocks rose slightly on Fed Chair Powell's comments around 2:30 p.m. —Imbert

2:46 pm: More than 5 stocks fall for every advancer at NYSE

The number of declining New York Stock Exchange-listed stocks outpaced advancers by more than 5 to 1, FactSet data shows. The major U.S. stock averages tumbled on Friday, capping off a wild week that sent them into correction territory. —Imbert

2:35 pm: U.S. oil drops nearly 5% for biggest weekly drop since 2008

U.S. oil prices experienced their steepest weekly fall since 2008 as the spread of the coronavirus stokes fears of slowing global demand. West Texas Intermediate crude settled down 4.9%, to $44.76 per barrel. U.S. crude has fallen about 16% for the week, the biggest weekly decline since December 2008. Brent crude fell 3.2%, at $50.749 a barrel, a 14-month low. —Fitzgerald

2:30 pm: Stocks move slightly higher after Fed Chair Powell's comments on coronavirus

Federal Reserve Chair Jerome Powell said on Friday the coronavirus poses "evolving risks" to the U.S. and economy and pledged to "act as appropriate." The Dow Jones Industrial Average was last down 660 points.—Fitzgerald

2:16 pm: Google employee diagnosed with coronavirus

A Google employee has tested positive for the coronavirus at its Zurich office, the company confirmed Friday. "We can confirm that one employee from our Zurich office has been diagnosed with the coronavirus. They were in the Zurich office for a limited time, before they had any symptoms," a Google spokesperson confirmed to CNBC's Deirdre Bosa. "We have taken — and will continue to take — all necessary precautionary measures, following the advice of public health officials, as we prioritize everyone's health and safety." Shares of Alphabet dropped 1.8% on Friday. —Fitzgerald

2:06 pm: Dow close to session lows

Stocks accelerated losses in afternoon trading. The Dow Jones Industrial Average plunged about 950 points. At session lows the 30-stock benchmark was down 1,085 points on Friday. The S&P 500 fell 3.1% and the Nasdaq Composite lost 2.5%. —Fitzgerald

1:00 pm: Here's how this week compares to previous sell-offs

Based on Friday's opening price for the Dow, this marks the 37th worst five-day drop since 1920 in terms of percentages. Thursay was the 50th worst. This drop is still far from the dramatic declines at the beginning of the Great Depression and in 1987. — Pound

12:41 pm: The VIX surges to 49, its highest level since 2018

The Cboe Volatility Index, known as the market's "fear gauge," spiked more than 20% to an intraday high of 49, its highest level since Feb. 2018, according to FactSet. The VIX, a measure of the 30-day implied volatility of U.S. stocks, has skyrocketed 174% this week as the market experienced its fastest correction in history. – Li

12:30: Nasdaq goes positive for less than 4 minutes

The Nasdaq Composite briefly went into positive territory in midday trading. The index was in the green for less than four minutes, according to FactSet. —Fitzgerald

12:14 pm: Stocks trading midday: Dow down 700 but Microsoft positive

The three major stocks averages were in the red in midday trading on Friday. The Dow Jones Industrial Average tanked about 700 points, and the S&P 500 and Nasdaq fell 2.3% and 1.6%, respectively. Bucking the trend, technology giant Microsoft traded up 0.5%. Boeing was the biggest loser in the Dow, down more than 5%. –Fitzgerald

11:46 am: Stocks off their lows, Nasdaq briefly goes positive

U.S. stocks briefly gave back some of their losses, with the Dow Jones Industrial Average only falling about 250 points. The 30-stock benchmark last traded about 500 points below Thursday's close. During the brief reprise, the Nasdaq Composite went positive. —Fitzgerald

11:38 am: Cruise stocks moving higher

The cruise lines, some of the first stocks battered by the coronavirus outbreak, were trading in the green on Friday morning. Norwegian Cruise Lines spiked 4.8%, while Royal Caribbean rose 3.7% and Carnival was up 1.5%. Deutsche Bank downgraded Royal Caribbean and Norwegian to hold overnight, and kept Carnival as a hold, saying in a note that "we cannot realistically recommend buying them." — Pound

11:17 am: Kudlow says 'stocks look pretty cheap to me'

National Economic Council Director Larry Kudlow said in an interview with Fox Business that there is no guarantee of a dramatic increase in confirmed cases of the coronavirus in the United States. He also said "stocks look pretty cheap to me." This comes after Kudlow said on Monday night that investors should "seriously consider" buying the dip. — Pound

10:31 am: Apple falls into bear market territory, all Dow stocks at least in correction

Friday's declines shoved Apple into bear market territory, or down at least 20% from a record high set on Jan. 29. Apple hit a high of 327.85 per share that day. On Friday, the stock traded around $262 per share, down about 4%. But Apple is not the only Dow component that has taken a beating recently. All 30 Dow members are in correction territory, down at least 10% from their 52-week highs. Exxon Mobil and Boeing are down about 40% each from their 52-week highs. —Imbert

10:22 am: Consumer sentiment hits 23 month high

Consumer sentiment climbed 101.0 in February, up from 99.8 last month, according to the University of Michigan. That's the highest reading since March 2018. Just 8% of consumers in the survey mentioned the coronavirus, but that rose to 20% in the final days of the month, Surveys of Consumers chief economist Richard Curtin said in a statement. — Pound

10:03 am: Dow more than 16% off record high as correction deepens

The Dow Jones Industrial Average fell more than 1,030 points, or 4%, to session lows shortly before 10 a.m. ET, deepening its correction to more than 16.4%. The S&P 500 also fell 3.9% at session lows, though was only about 15.7% off its own record intraday high. The threshold for a bear market is a 20% decline from a recent, 52-week high. — Franck

10:01 am: The market almost always does well after big drops like this

The stock market has been here before. There have been 14 prior occasions when the S&P 500 has lost more than 10% in a week, and the history in the near term is good, according to Bespoke Investment Group. Over the next week, the index has seen positive returns 12 times and has averaged gains of 3.53%. The next four weeks have seen average gains of 2.92%, with a median of 4.1%, while the next three months generate average gains of 5.61%. Longer term, the market has averaged gains in the following six months and one-year periods, but the results have been choppier. – Cox

9:32 am: Here are Friday's biggest analyst calls of the day: Disney, Dollar General, Uber, Royal Caribbean & more

BMO named Walt Disney as a top pick.

Wells Fargo lowered its price target on Goldman Sachs to $260 from $300.

Macquarie initiated Peloton as outperform.

KeyBanc initiated Uber and Lyft as overweight.

Jefferies upgraded Dollar General to buy from hold.

Atlantic Equities upgraded Wells Fargo to neutral from underweight.

Barclays lowered its price target on Beyond Meat to $130 from $185.

Deutsche Bank downgraded Royal Caribbean and Norwegian Cruise Line to hold from buy.

Oppenheimer upgraded Waste Management to outperform from perform. —Bloom

9:31 am: Sell-off steepens at open, Dow down 800 points

The coronavirus-driven sell-off continued on Friday. The Dow Jones Industrial Average fell more than 800 points after the opening bell, The S&P 500 and Nasdaq also experienced sharp declines, falling 2% and 3.4%, respectively. All three averages deepened into correction, down more than 10% from their recent highs. –Fitzgerald

9:19 am: Charles Schwab's Sonders says momentum trades not helping, questions efficacy of possible Fed cut

Charles Schwab Chief Investment Strategist Liz Ann Sonders told CNBC Friday morning that momentum trading at hedge funds and other quantitative firms exacerbates quick rises and quick falls in the stock market and that this week's sell-off is no exception. Additionally, she wondered about how helpful action by the Federal Reserve could be since investors have already priced in three rate hikes in 2020 and markets continue to slide. "The reason it happened so quickly is because the momentum going up was so great. The hedge funds, the algorithmic trading, the quants: They play on momentum," Sonders said. "Momentum can feed on itself in both directions. The problem of course, that the catalyst [coronavirus] is something we can't quantify." "There's only so much [banks, central banks] can do ... if you're a traditional bank loaning money to a company dealing with a supply chain problem, cheaper cash isn't going to help," she added. "Now I wonder, given that the market expects three rates cuts, has the narrative changed? Are we past the point" when the Fed signals more liquidity and stocks move higher? — Franck

9:17 am: Bullard says no rate cuts unless coronavirus gets a lot worse

St. Louis Federal Reserve President James Bullard said he would consider rate cuts to address the coronavirus, but only if it turns into a pandemic. Speaking in Arkansas, the central bank official said a pandemic is not the "baseline" scenario for COVID-19, indicating that the bar is high for any further policy accommodation. – Cox

9:12 am: Dow set to open down 700 points

The Dow Jones Industrial Average futures pointed to a greater than 700-point drop with 15 minutes until the opening bell. - Fitzgerald

8:40 am: 2-year Treasury yield plunges below 1%

The 2-year rate Treasury yield slid 11 basis points to 0.95%, its lowest level since Nov. 2016. The benchmark 10-year rate also plunged to a fresh record low of 1.16% on Friday as investors dumped riskier assets and searched for safer options amid the coronavirus outbreak. The 10-year yield has tumbled 25 basis points this week alone. —Li

8:11 am: Wall Street's 'fear gauge' spikes to fresh 2-year high

The Cboe Volatility Index (Vix), which is referred to by market experts as Wall Street's "fear gauge," hit a high of 47.15 on Friday. That's its highest level since February 2018, when it briefly traded above 50. —Imbert

7:58 am: Barclays cuts S&P 500 2020 target, sees an earnings decline due to coronavirus

Barclays slashed its S&P 500 target for 2020 to 3,000 from 3,300 as the coronavirus throws the global supply chains into chaos. The equity benchmark tumbled more than 10% this week alone to 2,978 as of Thursday's close. Barclays also cut its S&P 500 earnings estimates to $162 per share this year, representing a 2% drop in profits. "The repercussions of the shock to the Chinese economy that has already happened to the rest of the world will not be insignificant," Maneesh Deshpande, head of equity derivatives strategy at Barclays, said in a note Friday. "We think it is too early to buy the dip since the repercussions from COVID-19 are likely to very bad or mildly bad." —Li

7:55 am: Warsh rebuts charge that he's looking to be Fed chair

Former Fed Governor Kevin Warsh denied accusations that he's angling to be the central bank's next chairman. Warsh caught the market's attention Thursday with a Wall Street Journal op-ed urging his former colleagues to cut interest rates in response to the coronavirus outbreak. Another former Fed official, Richard Fisher, who was president of the Dallas district, told CNBC in an interview Thursday that there was "an audience of one" for the op-ed, namely President Donald Trump. Warsh, who was in office during the financial crisis, said, "For those of us that were in the middle of the last one of these wars, none of us covets being in Jay Powell's seat today. We still have scar tissue from it." He called Fisher's comments "divisive rhetoric." – Cox

7:48 am: Citi sees things improving for Apple in China

The coronavirus continues to cause fear in the markets but Citi said on Friday that the situation is China is getting better for the tech giant. "Overall, we believe that things are beginning to improve in China for Apple," analyst Jim Suva said noting that the company's stores were beginning to re-open. "Outside of Apple's supply chain, we have heard comments from PC makers, who are talking about transitory impacts on the production/supply chain, while anticipated demand (outside of China) remains in line with expectations," he said. Shares of Apple are down nearly 2% in premarket trading on Friday. - Bloom

7:36 am: Global stocks lose $6 trillion in value in 6 days

Global stocks markets have lost $6 trillion in value over the past six days, according to S&P Dow Jones Indices. Stock markets around the world are plunging into correction territory as investors fear the surging of coronavirus cases outside of China will escalate the deadly virus to a pandemic. The market sell-off also wiped about $4 trillion from U.S. stocks in the same period, according to the firm's Senior Index Analyst Howard Silverblatt. "The current, and largest concern now is if consumer's start pulling back on their spending - consumer spending has been supporting the economy, as it makes up for disappointing corporate expenditures," Silverblatt wrote in an email to CNBC. – Fitzgerald

7:24 am: Former Fed Governor Warsh says Fed should work with counterparts to ease market fears

Former Fed Governor Kevin Warsh told CNBC on Friday that the U.S. central bank should work with its partners around the globe in a coordinated effort to ease financial markets. Warsh, who spoke on "Squawk Box" ahead of the week's final day of trading, compared the Fed's ability to cut interest rates to having a knife in a global "gunfight." "I think it's likely to be a gunfight out there. When I look at the world's big central banks, not a lot of them have guns. Maybe the Fed has a bigger gun than everyone else, but the Fed probably has a knife," he said. "They've got a knife, there's a gunfight, [so] you might as well find some friends that also have knives and see if you can't do it together. And there's some knives out there at the other big central banks." — Franck

7:16 am: Futures bounce off worst levels as Warsh predicts global coordinated action

Dow futures are off their worst levels of the morning and now down just 225 points after Former Federal Reserve Governor Kevin Warsh said on CNBC that he expects the Federal Reserve and other central banks around the world to act soon in response to the coronavirus outbreak. -Melloy

6:53 am: Seeing indiscriminate selling in the premarket

We're seeing a really active premarket already. Normally at this time of the morning, there are a handful of S&P 500 stocks trading. Right now, there are 334 S&P 500 stocks trading in the premarket, according to FactSet, and 326 of those are lower. Coronavirus related names like MGM Resorts are among the hardest hit. MGM is down 4% in premarket. One of the few up stocks is Clorox, up nearly 4% in the premarket. -Melloy

6:30 am: Here's where things stand for stocks

It's been a dismal week for stocks, and futures suggest there may not be a reprieve just yet. Here's where things stand. —Fitzgerald Dow: dropped 3,225 points in the last 4 sessions, down 11.1% this week, putting it on track for its worst weekly performance since Oct. 2008.

S&P 500: coming off six straight negative sessions, down 10.8% for the week, on track for its worst weekly performance since Oct. 2008.

Nasdaq Composite: down 10.6% on the week, also on pace for its worst week since the financial crisis.

6:20 am: 10-year yield drops to fresh all-time low

The 10-year U.S. Treasury note yield fell to a fresh record low as investors sought out a safe haven from the stock market's volatile downside moves. The benchmark rate broke below 1.2% for the first time ever, last trading around 1.18%. Yields move inversely to prices. It ended last week above 1.47%. Friday's move come as U.S. stock futures pointed to another sell-off in equities. —Imbert

6:15 am: U.S. stock futures point to losses at the open, Dow set for more than 400-point drop