Markets tanked, Holi will go on, deep-sea VD

Good morning, Quartz readers!

What to watch for today

Holi could have its colors muted. Opinions differ on whether Indians should attend holiday celebrations or isolate themselves from possible coronavirus exposure, while some major Holi events have been cancelled outright.

US Democrats hold more primaries. Six states will go to the polls, but Michigan will get most of the attention, as Bernie Sanders won the state in 2016. He’ll need big victories to turn the tables on Joe Biden, who leads the delegate count and is favored to win the nomination.

China releases inflation data. The numbers will add to a growing understanding of Covid-19’s economic impact on the country, and may be as dismal as Saturday’s report of falling exports.

Japan considers a bill that would allow a national state of emergency. Prime minister Shinzo Abe has been the subject of criticism over his handling of the Covid-19 outbreak ahead of the Tokyo Olympic Games. The new bill, if approved (and exercised), would give governors the authority to shut down events and close public facilities, among other precautions.

While you were sleeping

Subscribe to Quartz’s free newsletter on Covid-19. Need to Know: Coronavirus examines how the epidemic is affecting the health of the global economy. Sign up here.

US stocks had their worst day since the Recession era. As oil prices plunged and coronavirus spread, the Dow Jones Industrial Average sank 7.8%—the biggest drop since October 15, 2008—while the S&P 500 fell 7.6%. An early morning sell-off forced markets to pause for 15 minutes right after opening.

Coronavirus claimed its first victim in Africa. A 60-year-old German tourist died in Egypt. Meanwhile, Italy extended its quarantine measures across the whole country; Visa locked down part of its London office over a possible Covid-19 case; Ireland canceled all St. Patrick’s Day parades; and Israel instituted a 14-day quarantine for all arriving visitors. If you’re feeling anxious about all of the above, psychologists have some tips to help you breathe easier.

The IMF told governments to stimulate their economies. The monetary fund’s chief economist Gita Gopinath said leaders should consider tax relief and cash transfers to put money in the hands of households and businesses amid a coronavirus-induced slowdown.

A study concluded that the carrier and pilots of the Ethiopian Airlines crash were not at fault. The incident killed 157 a year ago, and emphasized serious concerns about the safety of Boeing’s 737 MAX aircraft. The Ethiopian investigation differed from Indonesia’s probe into its own crash in that it put the blame entirely on the aircraft itself, insisting pilots had been fully trained.

Max von Sydow died. The legendary Swedish actor had roles in everything from a spate of iconic Ingmar Bergman films (most notably The Seventh Seal) to The Exorcist to Star Wars to Game of Thrones. Von Sydow was 90 years old.

Quartz membership

AI can be prejudiced, just like people. Quartz contributor Helen Edwards reports on how human biases get imported into AI—and how lawmakers and the tech industry are trying to course-correct.

Quartz daily obsession

The Bachelor is trashy, unrealistic, and somewhat sexist—but we can’t look away. The reality show has run for 24 seasons, entertaining audiences at home and across Twitter with the antics of attractive young people with an open bar and nothing to do but feud and fall in love. Along the way, it’s become a lucrative revenue stream for ABC and its most popular contestants. If you’re here for the right reasons, join us for the Quartz Daily Obsession.

Matters of debate

Wikipedia volunteers are the best weapon against misinformation. The editors hold down the fort of truth.

China’s “economic miracle” is built on exploitation. Rural migrants powered decades of backbreaking growth, but remain locked out of the huge economic windfall.

Don’t get “clever” with coronavirus precautions. Italy’s prime minister admonished residents not to skirt restrictions meant for their own benefit.

Surprising discoveries

Artists are fighting facial recognition with face paint. They use cubist-inspired designs to foil algorithms.

Some airlines are running ghost flights. Carriers are wasting fuel to hold their take-off and landing slots.

A black hole as massive as a billion suns is spewing space junk at us. It’s the oldest and most distant blazar we’ve found so far.

There’s chlamydia at the bottom of the Arctic Ocean. A thriving community of bacterial cousins to the world’s most popular STD lives in the sediment beneath the sea.

A horde of zombie companies shambles among us. Low interest rates have created a glut of companies that shuffle along on cheap financing rather than revenues.

Our best wishes for a productive day. Please send any news, comments, anarchist face paint, and spectral airline snacks to hi@qz.com. Get the most out of Quartz by downloading our app on iOS or Android and becoming a member. Today’s Daily Brief was brought to you by Susan Howson and Nicolás Rivero.