It's Jim Kramer here.

You're listening to the opening bell of CNBC Squawk on the Street.

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Good Thursday morning.

Welcome to Squawk on the Street.

I'm Carl Cantony with Jim Kramer and David Faber at the New York Stock Exchange.

Futures have been weak all morning as China switches its methodology on the novel coronavirus,

resulting in nearly 15,000 additional cases and the testing of the thesis of a rebound.

Europe's been watching that same macro dynamic all day today.

Ten year briefly dips below 157, although oil is hanging on to 51.

Our roadmap begins with coronavirus.

Cases surging as the Chinese province at the heart of the outbreak begins using a faster

method to diagnose the virus.

Plus, Tesla shares are falling this morning.

This is because the company announced a $2 billion offering of common stock.

And speaking to Tesla, why one legendary investor says he would, quote, never buy it, and I would never sell it short.

We'll begin, though, with coronavirus fears weighing on the global markets.

Obviously, this move is not just the methodology change, Jim, but firing some top officials.

There's a couple stories on the wires comparing it to a boardroom reset.

Yeah, it does seem that whatever decisions we've made based on the numbers that were coming out,

we're decisions that won't hold up.

What I want to try to caution people is yesterday, the mood of Wall Street was,

...