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President Donald Trump declared a national emergency on Friday, the most significant move yet by the U.S. government to head off the coronavirus outbreak, and House Democrats and the White House later reached a deal on an aid package.

Trump's declaration came as many public and private institutions have taken action — including canceling major events, temporarily banning large gatherings, closing schools and telling people to work from home — in an effort to slow the spread of the virus.

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The Dow Jones Industrial Average tumbled, soared, and then closed with a gain of 1,900 points after the emergency declaration. Wall Street had reeled Thursday afternoon after coronavirus fears drove the markets to their worst day since the Black Monday crash in 1987.

The United States as of Friday afternoon had surpassed 2,000 confirmed or presumptive cases of the coronavirus, and the death toll climbed to 41.

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