GENEVA (AP) — The World Health Organization has declared that the global coronavirus crisis is now a pandemic.

The assessment comes as Italy weighs even tighter restrictions on daily life and  announced billions in financial relief to cushion economic shocks.

Premier Giuseppe Conte says he will consider requests to toughen an already extraordinary lockdown.

The hardest-hit region of Lombardy is pushing for a shutdown of nonessential businesses and public transportation on top of travel and social restrictions.

The death toll in Italy has risen to 631. In the U.S., more than 1,000 people have been infected.

Stocks are down 4.6 percent on Wall Street, wiping out all of Tuesday’s big gains.