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Traders are betting the Federal Reserve will deliver another, bigger reduction in borrowing costs at its mid-March policy meeting, as worries about the spread of the new coronavirus trumped data showing robust hiring by U.S. employers last month.

The number of people infected by the new coronavirus globally surpassed 100,000 on Friday, according to a Reuters tally based on statements from health ministries and government officials.

The U.S. trade deficit narrowed more than expected in January as imports declined, and further decreases are likely as the coronavirus outbreak disrupts the flow of goods and services.

U.S. employers maintained a robust pace of hiring in February, giving the economy a strong boost as it confronts the coronavirus outbreak that has stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.

Traders of futures contracts tied to the Federal Reserve's policy rate were betting Friday on another, even bigger reduction to borrowing costs at the U.S. central bank's mid-March meeting.

Business districts around the world began to empty and stock markets tumbled on Friday as the number of coronavirus infections neared 100,000 and the economic damage wrought by the outbreak intensified.

Greece has confirmed 14 new cases of coronavirus infection, health authorities said on Friday, bringing the total in the country to 45.

U.S. stock index futures dropped sharply on Friday as compounding fears about the economic damage from the coronavirus epidemic drove investors to perceived safe havens such as bonds and gold.

Global stock markets tumbled and government bonds rallied on Friday as disruptions to business from the spreading coronavirus epidemic worsened, stoking fears of a prolonged economic slowdown.

Oil prices fell 4% on Friday to their lowest since July 2017 after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices.

Russia will not back an OPEC call for extra oil output cuts and will only agree to extending existing curbs, a Russian source said on Friday, threatening to derail a plan by OPEC ministers for deeper reductions to cope with the coronavirus outbreak.

Indian automaker Tata Motors warned on Friday of lower profit at its British luxury car brand Jaguar Land Rover (JLR) for the fiscal year as the coronavirus outbreak has hit sales in China.

(This March 5 story corrects Reuters instrument code for 10-year U.S. Treasury in paragraph 14 to "US10YT=RR", from "US10YR=RR")

Nissan is pushing on with plans to build its new Qashqai sports utility vehicle at its British factory despite warnings over Brexit, announcing on Friday a 52-million pound investment in a new press line at the site.

Oil prices slid more than 4% on Friday to their lowest since July 2017 after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices.

Tesla Inc has secured Chinese government approval to sell longer-range China-made model 3 vehicles in China, the Ministry of Industry and Information Technology said on Friday.

Russia will not back an OPEC call for extra oil output cuts and will only agree to extending existing curbs, a Russian source said on Friday, threatening to derail a plan by OPEC ministers for deeper reductions to cope with the coronavirus outbreak.

State Bank of India , the country's largest lender, is exploring a wide range of rescue options for struggling Yes Bank Ltd including a complete buyout of its private-sector rival, two sources familiar with the matter said.

Shares in India's Yes Bank Ltd plunged 60% on Friday as panicky depositors rushed to withdraw funds after the central bank took control in a dramatic late-night move and limited withdrawals from the troubled lender.

Oil prices slid more than 3% on Friday after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices in the face of a slump in oil demand because of the global coronavirus outbreak.