The Dow Jones Industrial Average Drops More than 1,000 Points at Session Low Today

The Dow Jones Industrial Average could lose more than 600 points today on South Korea's 600 reported COVID-19 coronavirus cases.

South Korea raised the alert on the coronavirus to the "highest level" this morning. The ongoing spike of cases outside of China has driven governments to panic, while analysts continue to warn that global economic growth is poised to slump. More on this below.

First, here are the numbers from Friday for the Dow, S&P 500, and Nasdaq:

Now here are what I think will be the most important market events and stocks on Monday morning.

The Top Stock Market Stories for Monday

• This morning, concerns about the coronavirus have accelerated as investors continue to monitor the latest updates from China, South Korea, and other global markets. New cases have emerged in Iran and Italy. In response to the Iranian patient, Turkey reportedly closed its border with the country. The ongoing worries about the coronavirus have a number of leaders speculating how nations will respond. U.S. Treasury Secretary Steven Mnuchin said that he anticipates that central banks from Europe to China will likely provide additional stimulus to beat back any reduction in growth across the globe.

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• Over the weekend, Sen. Bernie Sanders (I-VT) won the Nevada caucus, a victory that has confirmed his status as the front-runner for the Democratic nomination. Sanders easily beat centrist candidates and has sparked significant concerns among more moderate members that he could lock up the nomination and fail to build a coalition against the Trump administration.
• In commodity news, gold prices continue from seven-year highs as concerns about the coronavirus and the ongoing stimulus efforts rush capital toward safe-haven assets. Meanwhile, oil prices continue to retreat as worries about Asia-Pacific demand accelerate. With a "demand shock" happening across the Chinese economy, all eyes are now turning to a March meeting where OPEC will debate additional production cuts to support crude prices.

Stocks to Watch Today: INTU, BRK.A, BUD, BREW

• In deal news, Intuit Inc. (NASDAQ: INTU) is reportedly close to purchasing online credit monitoring giant Credit Karma for $7 billion. The deal would give Intuit a massive technology platform that allows it to expand its reach into the digital consumer financial sector. Look for the firm to announce the deal as it reports earnings on Monday.
• Meanwhile, pay close attention to Craft Brew Alliance Inc. (NASDAQ: BREW). The company's shareholders will vote tomorrow on its buyout offer Anheuser-Busch InBev (NYSE: BUD).
• Over the weekend, Berkshire Hathaway Inc. (NYSE: BRK.A) reported earnings. Warren Buffett's company posted a profit of $29.2 billion for the quarter. Of course, the big headline around this report was news that the firm now has a staggering $128 billion in cash on hand. The firm said that it increased its stock buyback program by $2.2 billion during the quarter and $5 billion for the year.
• Look for an earnings report from Palo Alto Networks Inc. (NASDAQ: PANW), Hewlett-Packard Inc. (NYSE: HPQ), Clovis Oncology Inc. (NASDAQ: CLVS), Nautilus Inc. (NYSE: NLS), Hertz Global Holdings Inc. (NYSE: HTZ), and Kratos Defense & Security Solutions Inc. (NASDAQ: KTOS).

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