Coronavirus cases in Spain jump to over 1,000

The number of confirmed coronavirus cases in Spain has surged to at least 1,050 and the death toll has reached 28, according to Spain's Health Ministry.

Madrid, Spain's political and economic capital, saw the number of cases double to over 469 in just one 24-hour period between Sunday and Monday. Ministers of the region have called an emergency meeting for Monday evening to discuss what action to take next.

Other badly affected areas include the wine-producing region of La Rioja, where some schools and universities have been shut down to prevent further transmission.

One town in the region, Haro, was put on full lockdown after several people who attended the same funeral came down with the virus. People trying to leave the town could face up to a €600,000 ($686,000) fine.

The COVID-19 virus in Spain is seeing a growth rate similar to that of Italy. Just 10 days ago, Italy reported around 1,000 cases, but that number has ballooned to over 7,000 and around 16 million people have been quarantined.

Earlier on Monday, Spanish Prime Minister Pedro Sanchez held a press conference where he called for calm and said he would soon deploy a plan to offset the virus's economic damage.

Afterwards Sanchez and other politicians were filmed greeting each other with kisses and handshakes.

On Monday, Spain's financial index, the IBEX 35, fell by nearly 8%-the fourth-largest one-day drop in its history.