Belgium Virus Outbreak   –   Copyright  Francisco Seco/Copyright 2020 The Associated Press. All rights reserved

The European Central Bank (ECB) said it would launch a €750 billion plan to help markets during the coronavirus pandemic.

The unprecedented emergency programme will allow them to purchase private and public securities to counter the economic risks of the outbreak. Markets have plunged historically amidst the pandemic.

It was significantly more money than the €120 billion purchase envelope that the bank announced last week.

The novel coronavirus emerged first in China, which for months had suffered the highest number of infections and deaths worldwide, but Europe is the new epicentre of the disease.

“Extraordinary times require extraordinary action. There are no limits to our commitment to the euro. We are determined to use the full potential of our tools, within our mandate,” said president of the ECB, Christine Lagarde.

The bank released the plans around midnight in Europe on Thursday.

At a glance: key coronavirus developments

• China reported no new community transmissions, with all new cases imported from abroad.

• The UK has announced that schools will be closed from Friday.

• Italy announced a record daily death toll of 475.

• Budget airline Ryanair says it will ground nearly all flights from next week.

• EURO 2020 and Copa America football tournaments, set for June, put back to next year.

• The first death from the virus in sub-Saharan Africa has been announced by an official in Burkina Faso.

• EU leaders have agreed to prevent foreigners from entering the European bloc for 30 days.

• Latest figures on new infections and deaths.

A Flourish data visualisation