This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks.
- Global cases: More than 375,000
- Global deaths: At least 16,100
- US cases: At least 43,000
- US deaths: At least 500
The data above was compiled by Johns Hopkins University.
7:12 pm: Fed surprises market with program to support corporate bonds amid coronavirus pandemic
The Federal Reserve pulled out another series of bazookas today, including a flurry of programs to buy more Treasuries and mortgage-backed securities. But one move that surprised many was the decision to buy corporate bonds and corporate bond exchange-traded funds.
“This is unprecedented action by the Fed,” Johnny Fine, head of Investment Grade Bonds at Goldman Sachs told CNBC’s Wilfred Frost.
Under a program called the Secondary Market Corporate Credit Facility, the Federal Reserve will be able to purchase corporate bonds, not just Treasuries. That alone is big news, but this program also allows for the purchase of ETFs that track the U.S. investment-grade corporate bond market. —Bob Pisani
7:04 pm: Updated map of US coronavirus cases, which total 43,214
6:59 pm: Volunteers from tech companies like Amazon, Apple and Google build coronavirus-tracking site in six days
The idea started when Prem Ramaswami, the head of product at Alphabet’s Sidewalk Labs, and his wife, started feeling sick more than a week ago. When he tried to get a test for the coronavirus, his doctor told him that would not be possible. According to Ramaswami, he was denied access to the test because he hadn’t been in touch with anyone who had tested positive.
Ramaswami, who previously worked on health projects at Google, wondered how he could help others in the same boat. —Christina Farr
6:52 pm: Consumers could spend $20 billion less for gasoline this April as prices collapse in futures market
Gasoline prices in the wholesale and futures markets crashed as more states issued stay-at-home orders, severely dampening demand for fuel.
Some spot cash prices around the U.S. were down 40% or more Monday, and futures prices for gasoline in New York Harbor lost 24% for gasoline due for delivery in April. As a result, the prices drivers pay at the pump could fall by as much as 20% in a matter of weeks and in some areas, could reach a low below $1 a gallon ultimately in select markets.
“The reason is clear. No one is driving,” said Daniel Yergin, vice chairman at IHS Markit. —Patti Domm
6:45 pm: Facebook is offering employees up to a month of paid leave to care for sick family members
Facebook has introduced new paid time off programs that will allow employees to take up to a month away from work to care for sick relatives in light of the coronavirus outbreak, a spokeswoman for the company told CNBC.
“Facebook understands we are in uncharted territory with the COVID-19 pandemic,” the spokeswoman said in a statement. “We want to support our people with navigating their needs during this time. Therefore, we have launched a number of initiatives for our employees and their families.”
Among these initiatives is a paid emergency care leave program that offers 30 working days of leave to employees who need to care for a sick family member, or if they need to travel to another country or state to care for a family member. —Sal Rodriguez
6:35 pm: CDC says coronavirus survived in Princess Cruise ship cabins for up to 17 days after passengers left
Two buses arrive next to the Diamond Princess cruise ship, with people quarantined onboard due to fears of the new coronavirus, at the Daikaku Pier Cruise Terminal in Yokohama port on February 16, 2020.
Behrouz Mehri | AFP | Getty Images
The coronavirus survived for up to 17 days aboard the Princess Diamond cruise ship, living far longer on surfaces than previous research has shown, according to new data published by the Centers for Disease Control and Prevention.
The study examined the Japanese and U.S. government efforts to contain the COVID-19 outbreaks on the Carnival-owned Diamond Princess ship in Japan and the Grand Princess ship in California. Passengers and crew on both ships were quarantined on board after previous guests, who didn’t have any symptoms while aboard each of the ships, tested positive for COVID-19 after landing ashore.
The virus “was identified on a variety of surfaces in cabins of both symptomatic and asymptomatic infected passengers up to 17 days after cabins were vacated on the Diamond Princess but before disinfection procedures had been conducted,” the researchers wrote, adding that the finding doesn’t necessarily mean the virus spread by surface. —Will Feuer
6:29 pm: Bood donations needed as drives are canceled across the US
Those who depend on regular transfusions are increasingly worried as over 4,000 blood drives were canceled in the U.S. because of the coronavirus, according to the American Association of Blood Banks.
This situation, which resulted in a loss of 130,000 donations, is unprecedented, according to Dr. Claudia Cohn, AABB’s chief medical officer and director of the blood bank at the University of Minnesota Medical Center.
“I’m looking to delay or reduce blood usage with the knowledge that the supply is not being refilled at a robust rate, and nationwide we’re seeing this,” Cohn said.
The American Red Cross is keeping blood donation centers open and using new protocols such as enhanced disinfecting and temperature checks for staff and donors to keep the virus from spreading. Those practicing social distancing and staying at home can still leave to donate blood, according to U.S. Surgeon General Dr. Jerome Adams. —Hannah Miller
6:25 pm: Dow futures rise as Senate haggles over virus bill
6:20 pm: US health officials say 147 nursing homes have at least one resident with coronavirus
There are 147 nursing homes across 27 states that have at least one resident with the coronavirus, exposing seniors who are “more susceptible to dangerous complications from the virus,” Centers for Medicare and Medicaid Services Administrator Seema Verma said in releasing the new data.
CMS and the Centers for Disease Control and Prevention examined the high rate of COVID-19 fatalities at the Life Care Center nursing home in Kirkland, Washington, the epicenter of the outbreak in the state. At least 35 residents or staff of Life Care have died from the virus, CMS said.
While that figure is a small fraction of the 15,000 nursing homes across the U.S., it posses a serious threat to the senior population since people over 65 years old are already at higher risk to serious illness and death from the coronavirus, according to the CDC. —Noah Higgins-Dunn
6:00 pm: Florida requires travelers from New York and New Jersey to self-isolate
Cyclists pass the boarded up Smith & Wollesnky restaurant as they exercise in South Pointe Park on March 18, 2020 in Miami Beach, Florida.
Cliff Hawkins | Getty Images
Florida Gov. Ron DeSantis said Monday that he is issuing an executive order requiring those flying into his state from New York and New Jersey to self-isolate for 14 days.
“That’s the only way we can be sure that that virus is not going to be reintroduced in the state of Florida and then spread,” DeSantis said of the new order. DeSantis said he had spoken with President Donald Trump regarding the issue. He also said that a “flood” of people from New York have been traveling to Florida on hundreds of flights over the past few days.
The stay-at-home restrictions in other states may be causing people to flee to Florida, according to DeSantis. —Hannah Miller
5:45 pm Fiat Chrysler to produce and donate face masks
Fiat Chrysler said that it will begin manufacturing over one million protective face masks per month and donating them to police, EMTs and firefighters, as well as to workers in hospitals and health care clinics fighting the coronavirus outbreak.
FCA said production capacity will be installed this week and initial distribution of the face masks across the U.S., Canada and Mexico will begin in the coming weeks.
On Friday, General Motors announced it will lend its auto factories to support Ventec Life Systems’ production of ventilators, which are for patients who cannot breathe on their own. Ford has previously said it’s studying how feasible it would be to do the same in its factories. —Noah Higgins-Dunn
5:30 pm: Playgrounds closing in San Francisco, other public spaces could follow ‘if needed’
San Francisco Mayor London Breed said Monday that the city will be closing all playgrounds to make sure residents are following the “shelter in place” order.
“We are closing playgrounds to ensure people follow the stay at home guidelines. We will close other public spaces if needed,” Breed said. “I’m asking you to do your part. The only way SF can avoid the devastation we’re seeing in other parts of the world is if everyone acts responsibly.suspends dividend, halts buybacks and taps credit in midst of coronavirus pandemic.” San Francisco on Monday reported a total of 131 cases. —Riya Bhattacharjee
5:11 pm: Nordstrom suspends dividend, halts buybacks and taps credit in midst of coronavirus pandemic
Nordstrom said Monday it is suspending its dividend, halting share buybacks and has drawn down $800 million on its revolving credit facility, in the midst of the coronavirus pandemic.
“We are proactively taking steps to strengthen our financial flexibility to help us navigate through this unprecedented situation,” CEO Erik Nordstrom said in a statement. —Lauren Thomas
5 pm: UK Prime Minister Boris Johnson orders Britons to stay at home to halt spread of coronavirus
British Prime Minister Boris Johnson gestures as he speaks during a coronavirus news conference inside number 10 Downing Street on March 19, 2020 in London, England.
Leon Neal – WPA Pool | Getty Images
Prime Minister Boris Johnson on Monday ordered Britons to stay at home to try to halt the spread of coronavirus, closing nonessential shops, telling people not to meet with friends or family and warning those who do not follow the rules face fines.
Deaths from the virus in Britain jumped to 335 on Monday as the government said the military would help ship millions of items of personal protective equipment (PPE) including masks to healthcare workers who have complained of shortages.
“From this evening I must give the British people a very simple instruction – you must stay at home,” Johnson said in a televised address to the nation, replacing his usual daily news conference. —Reuters
4:30 pm: Indiana has ‘stay-at-home’ executive order
Indiana residents have been ordered to “hunker down” and remain at home, Gov. Eric Holcomb announced Monday. The “stay-at-home” executive order is effective Tuesday at 11:59 pm and ends April 6, but could be extended if the outbreak worsens.
“Stay at home unless you’re going out on an essential errand or essential work or essential business,” Holcomb said at a press briefing Monday.
Essential businesses and services include grocery stores, pharmacies, gas stations, police stations, fire stations, hospitals, doctor’s offices, health care facilities, garbage pickup, public transit and public service hotlines such as SNAP and HIP 2.0, as well as others, according to a statement from the governor’s office. —Hannah Miller
4:20 pm: Twitter pulls first quarter guidance due to coronavirus
The company said its first quarter will be down versus the year-ago quarter and it expects a GAAP operating loss. But on the brighter side, the company said users are still growing as people tune into the site for the latest updates on the coronavirus. —Jessica Bursztynsky
4:00 pm: Dow rebounds into the close
3:51 pm: French PM says lockdown could last weeks
Prime Minister Edouard Philippe said a virtual lockdown in France imposed to slow the spread of the coronavirus could last several more weeks and that his government was tightening restrictions even further.
He said citizens from Tuesday would only be able to exercise alone or with their children once a day, for no more than an hour, and within 1 kilometer of their home. Open-air markets should close, he added.
“A lot of citizens want normalcy to return, but it’s not happening soon,” Philippe told TF1 news. “We feel the lockdown measures that we have taken, and which we will toughen yet again… could last several weeks.” —Reuters
3:33 pm: Instacart looks to hire 300,000 people over 3 months
Online grocery delivery platform Instacart said that it plans to hire an additional 300,000 full-service personal shoppers over the next three months, to help it meet the spike in demand. The company said it has seen volume grow 150%, year over year, in the past few weeks. It said basket sizes on average are also up about 15%. Instacart joins a list of retailers looking to hire, including Walmart and Amazon. —Lauren Thomas
3:26 pm: Rhode Island postpones its 2020 primary
Rhode Island will move its 2020 primary to June 2 from the originally planned April 28 in response to the deadly coronavirus outbreak, Gov. Gina Raimondo announced.
Last week, the Rhode Island Board of Elections voted to postpone the state’s primary from April 28 to June 2, according to the board’s deputy director of elections, Miguel Nunez. But the decision was “pending the governor signing an emergency order,” Nunez said.
Rhode Island has 26 delegates up for grabs. Sen. Bernie Sanders won the state in 2016 when he ran against former Secretary of State Hillary Clinton. —Yelena Dzhanova, Jacob Pramuk
3:14 pm: Italy’s coronavirus deaths slow
A woman wearing a protective mask walks outside Castel Sant’Angelo, as Italy tightens measures to try and contain the spread of coronavirus disease (COVID-19), in Rome, Italy March 23, 2020.
Remo Casilli | Reuters
The death toll from an outbreak of coronavirus in Italy rose by 602, the smallest increase for four days, while the number of new cases also slowed, raising hope that the most aggressive phase of the epidemic may be passing.
The Civil Protection Agency said the number of fatalities from the month-old contagion stood at 6,077, while confirmed cases totaled 63,927, an increase of 4,789 over the past 24 hours — the smallest rise for five days.
“Today is perhaps the first positive day we have had in this hard, very tough month,” said Giulio Gallera, the top health official in the northern region of Lombardy, which has been hardest hit by the outbreak. “It is not the time to sing victory, but we are beginning to see the light at the end of the tunnel.”
However, there was also a significant fall in the number of tests carried out, and the head of Italy’s national health institute, Silvio Brusaferro, said it was too soon to say if the recent decline in daily deaths and new cases would continue. —Reuters
2:58 pm: Pressure rises to postpone the Olympics
Women wearing face masks, amid concerns of the COVID-19 coronavirus, walk past a display showing a countdown to the start of the Tokyo 2020 Olympic Games in Tokyo on March 23, 2020.
Charly Triballeau | AFP via Getty Images
There is mounting pressure to postpone the Olympics for the first time in its 124-year history.
Sources familiar with the matter tell CNBC that pressure is mounting and organizers could release a decision soon. One person told CNBC that postponing the games is the most likely scenario, as opposed to an Olympics without spectators which would “drain excitement” from the Games.
One IOC member, Dick Pound, told USA Today that the games would be postponed, but the IOC has not made an official announcement yet. —Jessica Golden
2:55 pm: West Virginia under ‘stay-at-home’ order, effective Tuesday night
West Virginia Gov. Jim Justice issued a “stay-at-home” order for the state. It will go into effect Tuesday at 8:00 pm.
Only those who provide essential services or are employed by essential businesses can go to work, according to the order. Residents will still be allowed to go to grocery, convenience and warehouse stores, as well as to the pharmacy. They can also bike ride, jog and walk outside as long as they maintain distances of six feet apart from other people. —Hannah Miller
2:31 pm: Stocks move toward session lows
The major stock indexes drifted back toward their session lows after the Senate failed to pass a landmark COVID-19 stimulus bill, a potential economic boost investors had hoped would come. The Dow was last seen down 500 points, or 2.5%, while the S&P 500 and the Nasdaq Composite were down 2.5% and 0.45%, respectively. Still, each index remained well off their session lows that saw both the Dow and the S&P 500 down about 5%. —Thomas Franck
2:26 pm: Retailers’ online deals might not be enough to stir up sales, with stores closed
The parking lot at Hilltop Mall sits empty on March 17, 2020 in Richmond, California. Seven San Francisco Bay Area counties have ordered residents to shelter in place in an effort to reduce social interaction and slow the spread of COVID-19.
Justin Sullivan | Getty Images
Nike, Macy’s and Vineyard Vines are just a few of the companies currently offering decent deals online, to try to stir up some sales as their stores sit dark. Many retailers are also throwing in free shipping — if they did not already offer it — and extending the window of time you have to make a return, in the midst of the coronavirus pandemic. But even with a 25% or 30% coupon sitting in their email inboxes, most consumers are not looking for a new pair of shoes right now. “You can discount in a demand-weak environment, but it doesn’t matter,” said Neil Saunders, managing director of GlobalData retail. —Lauren Thomas
2:19 pm: Coronavirus stimulus bill blocked again in Senate
A massive stimulus funding package again failed a key procedural vote in the Senate, as there were major differences between the two parties over what to include in the final legislation.
Senate Majority Leader Mitch McConnell threw aside his usually placid appearance as he tore into Senate Democrats for the second straight day, accusing them of filibustering a deal the country needs immediately. Senate Minority Leader Chuck Schumer was equally in combative in remarks, saying Republicans were still pushing for a bailout fund “with no strings attached.” —Lauren Hirsch, Jacob Pramuk
1:46 pm: Movie theater trade group doesn’t expect studios to launch blockbusters on streaming platforms while cinemas are shut down
The decision to have “Trolls World Tour” skip theaters and go straight to home viewing is an outlier, not the norm, the president of the National Association of Theater Owners said.
Movie theaters in a number of countries have been shuttered in an attempt to stem the rate of infection from the coronavirus. The pandemic has had an unprecedented impact on the entertainment industry, with studios being forced to make tough decisions about which movies will be delayed and which will be sent to the streaming and on-demand platforms.
Disney‘s “Onward,” Universal‘s “The Hunt,” “Emma” and “The Invisible Man,” Warner Bros.‘s “The Way Back,” Lionsgate‘s “I Still Believe” and Sony‘s “Bloodshot” have all gone to home video earlier than expected in the wake of theater closures. —Sarah Whitten
1:39 pm: How Americans are handling social distancing
Social distancing restrictions continue to be ramped up across the country, and new data sheds light on how American adults are adapting. One in 4 U.S. adults are avoiding public places but are still hanging out at homes of friends and family, according to a survey conducted March 17-20 by Morning Consult. —Chris Eudaily
1:22 pm: Stocks cut losses as Schumer says stimulus deal is close, Dow still down 150 points
A man wearing a face mask takes a selfie at the Charging Bull statue on March 23, 2020 near the New Stock Exchange in New York City. Angela Weiss / AFP) (Photo by ANGELA WEISS/AFP via Getty Images)
Angela Weiss | AFP | Getty Images
Stocks fell sharply Monday even after the Federal Reserve unveiled new measures to keep markets working properly.
The major averages pared losses at midday after Senate Minority Leader Chuck Schumer said he expects the upper chamber to reach a deal on a massive fiscal stimulus package.
The Dow Jones Industrial Average traded more than 150 points lower, or 0.9%, after clinching its lowest level in three years earlier in the session. The S&P 500 slid about 0.8% while the Nasdaq Composite outperformed with a 1% gain. —Fred Imbert
1:13 pm: Boeing plans two-week shutdown of factories in Seattle area
Boeing said it is shutting down production at its factories in the Seattle area for two weeks as the manufacturer grapples with the fallout of the coronavirus pandemic.
The company’s move to suspend its production in the Puget Sound area comes as Washington state, where most of Boeing’s production is centered, is in a state of emergency. Several Boeing employees have tested positive for COVID-19.
“These actions are being taken to ensure the well-being of employees, their families and the local community, and will include an orderly shutdown consistent with the requirements of its customers,” Boeing said in a statement. —Leslie Josephs
1:05 pm: Potential wave of mortgage delinquencies could bankrupt the payment system
Rows of houses in Las Vegas.
Jacob Kepler | Bloomberg | Getty Images
Last week the regulator for mortgage giants Fannie Mae and Freddie Mac announced a forbearance program for borrowers unable to pay their loans due to the effects of the coronavirus.
The Department of Housing and Urban Development, which includes the FHA loan program, announced the same. That is a huge relief for borrowers, who can now delay payments without penalty. Unfortunately, there is a hitch.
The mortgage servicers, the companies that collect monthly payments, are required to pass those payments on to the investors who own those loans in mortgage-backed securities, even if the borrowers don’t pay. Servicers also have to pay insurers and tax authorities.
Under normal circumstances, servicers have the cash reserves to do this if just a few borrowers don’t pay, but the industry is now looking at a potentially unprecedented wave of missed mortgage payments that could bankrupt the system. —Diana Olick
12:57 pm: Tech lenders push for a piece of the coronavirus, small-business bailout
Tech-focused lenders are lobbying to be part of a government stimulus plan for businesses hurting from the coronavirus slowdown.
Financial Innovation Now — an industry group representing Square, PayPal, Intuit, Stripe and other nonbank finance companies — sent a letter to Congress on Friday asking that their members be included in any emergency U.S. government funding.
“Small businesses are not well served by traditional financial institutions, nor will existing federal small business loan programs deliver funds soon enough,” the letter said. “Any federal small business loan program must leverage digital advances in the marketplace to ensure that stimulus can reach those business most in need.” —Kate Rooney
12:45 pm: Banks are offering coronavirus financial aid
12:33 pm: Schumer says Congress is close to a deal on the stimulus bill
Democrats and Republicans continued negotiations over a massive stimulus funding package that failed to get enough votes in a key Senate procedural tally Sunday evening.
A Senate vote on the bill originally planned for 9:45 a.m. ET had been pushed until later in the day. The Senate is planning to vote after remarks from Senate Majority Leader Mitch McConnell and Minority Leader Chuck Schumer, which started at noon.
“We’re very close to reaching a deal. Very close. And our goal is to reach a deal today,” Schumer said. “And we’re hopeful, even confident that we will meet that goal.”
Treasury Secretary Steven Mnuchin told CNBC on Monday that Congress is “very close” to a stimulus agreement and must get it done “today.” —Lauren Hirsch
12:24 pm: David Tepper says he’s buying some tech stocks, but market may have 10% to 15% more to fall
12:13 pm: How small business owners are coping with pandemic: ‘It was my civic duty to be a part of the solution’
Small businesses across America are already feeling the financial crunch from coronavirus restrictions that have millions of people taking refuge from the virus outbreak by staying at home and avoiding unnecessary shopping trips.
Several U.S. states have already begun mandating that nonessential businesses — basically anything beyond supermarkets and pharmacies — close their doors to customers. But, even in states where that isn’t the case, scores of small businesses have already made the move to close up shop totally or reduce their hours of business dramatically.
“I never could have imagined being closed for days and days,” says Barb Skupien, the 51-year-old owner of Embellish, a jewelry boutique in Asheville, North Carolina that she first opened in 2015 after previously running a similar store in Chicago for roughly seven years. —Tom Huddleston Jr.
12:06 pm: Mayors, first responders urge Trump to help them get protective equipment ‘now’ to fight pandemic
Medical personnel from Riverside (CA) University Health Systems hospitals administer a Coronavirus Test to an individual during drive-through testing in the parking lot of Diamond Stadium, March 22, 2020 in Lake Elsinore, California.
Bob Riha Jr | Getty Images
Major groups representing U.S. mayors, county executives, police and fire chiefs and first responders are urging President Donald Trump to use a federal act — which he so far has refused to tap — to get them “essential personal protective equipment” quickly to help them respond to the coronavirus pandemic.
“Our nation’s first responders call on you to address the shortage of essential personal protective equipment needed to keep them healthy and safe while on the job,” the groups wrote in a letter to Trump.
“If we lose emergency personnel to the disease, we cannot transport people to hospitals and protect our citizens,” they said. —Dan Mangan
11:59 am: Dow wipes out all the gains since Trump’s election
President Donald Trump has long pointed to the stock market’s success under his administration as a tangible endorsement of his economic policies and had often boasted about the Dow Jones Industrial Average‘s gains since his election. That was, of course, before investors knew about the new coronavirus.
With COVID-19 and measures to contain its spread seeding economic angst across the globe, the Dow’s steep drop pushed the 30-stock index below the level where it closed on Nov. 8, 2016, the day Trump won the 2016 election over Democrat Hillary Clinton.
The sell-off is part of a historic market meltdown that has sent the Dow down nearly 40% since last month. —Thomas Franck
11:54 am: Stock losses accelerate, Dow falls 900 points
Stocks fell sharply even after the Federal Reserve unveiled new measures to keep markets working properly. Wall Street awaited Washington lawmakers to agree to an economic stimulus and rescue plan to cushion the blow from the coronavirus outbreak.
The Dow Jones Industrial Average traded 952 points lower, or 5%. The 30-stock average also hit its lowest level in three years. The S&P 500 slid 4.9% while the Nasdaq Composite dropped 3.6%. —Fred Imbert
11:45 am: Michigan governor enacts executive order to ‘stay home’
A growing list of states is ordering residents stay at home during the coronavirus crisis, as COVID-19 takes hold in the U.S. Michigan became the latest state to issue such restrictions.
Earlier, Massachusetts Gov. Charlie Baker issued an emergency order to close all nonessential businesses across the state to curb the spread of COVID-19.
“I am issuing the following emergency order: effective Tuesday March 24th at noon, all nonessential businesses shall close their physical workplaces and facilities to all workers, customers and the public,” he said at a news briefing.
The announcement follows similar orders in states including New York, California and New Jersey. —Will Feuer
11:37 am: Global economic hit from coronavirus will be felt ‘for a long time to come,’ OECD warns
A trader with gloves and mask arranges some products in a plastic bag inside his grocery store during the covid-19 crisis on March 21, 2020 in Pontecagnano Faiano, Italy.
The economic fallout from the coronavirus pandemic will be felt far beyond the immediate impact of the virus, the OECD’s secretary general told CNBC.
“What you have is an economic effect now that, very clearly, is going to be prolonged beyond the period of the pandemic,” Angel Gurria told CNBC’s “Squawk Box Europe.”
“We’ll hopefully get rid of the pandemic in the next two or three months and then the question is how many unemployed (will there be), how many small and medium-sized enterprises will be in a very, very severe situation if not disappeared by that time,” he added. —Holly Ellyatt
11:29 am: New York coronavirus cases surge 38% overnight to 20,875
New York Gov. Andrew Cuomo issued an emergency order directing hospitals to increase their capacity by 50% as coronavirus cases across the state surged 38% overnight to 20,875.
New York is the hardest-hit state in the country behind New Jersey, Cuomo said. New York City, alone, accounts for 12,305 confirmed infections, he said.
“This could go on for several months,” Cuomo said. Roughly 13% of all cases have been hospitalized so far, 621 of the patients have ended up in the ICU and 157 people have died, he said. —Berkeley Lovelance Jr., Noah Higgins-Dunn
11:24 am: Updated map of COVID-19 cases in the US, which now total 35,345
11:14 am: G-7 finance officials plan coronavirus response call on Tuesday
Finance ministers and central bank governors from the G-7 wealthy democracies plan to hold a conference call on Tuesday morning to discuss their coronavirus response efforts, a source familiar with the plans said.
The call, to be led by U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell, will likely result in a statement from the G-7 finance officials, who remain in close touch and are coordinating their efforts, the source told Reuters. —Reuters
11:10 am: Once pandemic ends, businesses may take 6 months to get back to normal, CFO survey says
The biggest task facing the world right now is stopping the spread of the coronavirus. But even when the global public health crisis is under control and global supply chain disruptions caused by COVID-19 end, many large companies expect that business will not return to normal for between three to six months.
That’s according to the latest CNBC Global CFO Council survey, in which 40% of companies that already have or expect supply chain issues said it could take between three and six months to get business back to normal once the issues end (25% said six months).
“It is complete chaos,” said Andrew Sherman, a partner with Seyfarth Shaw who works with Fortune 1000 clients.
One-third of CFOs taking the CNBC survey indicated it is still too early to know if there will be supply chain disruptions. —Barbara Booth, Eric Rosenbaum
10:37 am: Government efforts to limit the economic destruction of coronavirus
The federal government is racing to ease the pain facing the U.S. economy as the coronavirus pandemic makes its swift pivot from a public health crisis to financial catastrophe.
The damage from COVID-19, the disease caused by the new virus, is unlike anything in modern times. Economists have warned the fallout could dwarf the 2008 recession, the worst downturn that many Americans can remember.
CNBC has compiled a list of steps taken by the federal government so far, counting actions taken by Congress and the executive branch, including the Federal Reserve, which operates independently from political officials. —Tucker Higgins
10:19 am: CVS Health looking to fill 50,000 jobs to meet demand
In a news release, CVS called it “the most ambitious hiring drive in the company’s history.”
The major pharmacy chain said it needs more store associates, home delivery drivers, distribution center employees and customer service professionals for part-time, full-time and temporary roles. CVS will use virtual job fairs, virtual interviews and tech-enabled job tryouts to find the right candidates, according to a news release. —Melissa Repko
9:57 am: GE Aviation plans to cut 10% of its US workforce because of lack of work
Aviation has been hit especially hard by the virus, which has decimated air travel demand and prompted airlines including Delta, United, and others around the world to park hundreds of planes and defer deliveries of new aircraft in an attempt to save cash.
GE’s CEO Larry Culp said he would forgo his salary for the rest of the year, following similar moves by airline executives at airlines and at one of the industrial conglomerate’s biggest customers for new engines: Boeing. —Leslie Josephs
9:53 am: In tweet storm, Trump touts suspect ‘cure’ and potential easing of guidelines to boost economy
President Donald Trump unleashed a barrage of posts on Twitter spreading conspiracy theories about the coronavirus, at one point promoting a dubious article that suggested a miracle cure was at hand.
“They should take a SERIOUS LOOK at this…” Chuck Callesto wrote in the tweet posted to the president’s account, with a link to a story with the headline “REPORT: French Doctor Reports 100 % Cure Rate Using Malaria Drug to Treat Corona Virus.”
There is no known cure or treatment for coronavirus, though scammers have sought to cash in on the panic it has caused. —Tucker Higgins
9:49 am: Fashion retailer H&M weighs tens of thousands of job cuts
General view of the closed H&M store, at Avenue des Champs Elysees, in the 8th quarter of Paris, as the city imposes emergency measures to combat the Coronavirus COVID-19 outbreak, on March 16, 2020 in Paris, France.
Edward Berthelot | Getty Images
Fast-fashion retailer H&M said it is weighing laying off tens of thousands of workers worldwide temporarily, as it works through interruptions to its business from the coronavirus pandemic.
The company also announced it has canceled its dividend proposal.
H&M, which is headquartered in Sweden and is one of the biggest apparel retailers in the world, has for the time being shuttered all of its stores in its several of its largest markets, including Germany and the U.S. All stores in the U.K. closed as of this past weekend.
As of Monday morning, the company said a total of 3,441 of its 5,062 stores worldwide are closed, “which together with subdued demand in the markets that are still open, has had a significant negative impact on sales so far in March.” —Lauren Thomas
9:45 am: GOP Sen. Pat Toomey: New Fed action shows why the stalled bill is ‘so essential’
Sen. Patrick Toomey said the Federal Reserve’s latest round of emergency action underscores the importance of the coronavirus relief legislation being negotiated in the Senate.
“The Fed is not allowed to lose money. That’s why our legislation is so essential,” the Pennsylvania Republican told CNBC. “The point is to provide the liquidity to get through this terrible moment,” Toomey said of the Senate legislation. —Kevin Stankiewicz
9:42 am: Surgeon General has virus warning: ‘This week, it’s going to get bad’
U.S. Surgeon General Dr. Jerome Adams warned the coronavirus outbreak will worsen this week and said that people across the country are not taking the threat seriously enough, NBC News reported.
“I want America to understand this week, it’s going to get bad,” Adams said in an interview on the “TODAY” show.
The disease is spreading, he said, because many people — especially young people — are not abiding by guidance to stay at home and practice social distancing. —NBC News
9:20 am: Starbucks hikes pay by $3 an hour
The signage of Starbucks Reserve is seen on the cups as a barista makes drip coffee at its new flagship store in Beijing, China June 30, 2018.
Jason Lee | Reuters
Starbucks baristas who continue to work will receive an extra $3 per hour for shifts through April 19.
The company on Friday closed most of its company-operated cafes across the U.S. and Canada, moving to drive-thru and delivery service only. Employees who are not working will receive catastrophe pay through April 19.
9:17 am: Rep. Ben McAdams hospitalized after positive test
Rep. Ben McAdams, D-Utah, who tested positive last week for the disease caused by the coronavirus, said Sunday night that he has been hospitalized since Friday because of “severe shortness of breath,” NBC News reported.
McAdams said in a statement that he experienced worsening symptoms Friday evening and he called the hotline for COVID-19, the disease caused by the coronavirus. He said he was told to go to the hospital.
“I was admitted and have been receiving oxygen as I struggled to maintain my blood oxygen at appropriate levels. I am now off oxygen and feeling relatively better and expect to be released as soon as the doctor determines it is appropriate,” he said in a statement posted on his Twitter account.
McAdams said his experience has shown him “how critical it is to follow the advice of the CDC and the Utah Department of Health in order to stop the spread of this virus.” —NBC News
9:04 am: Ken Langone blasts Washington, calls for passage of relief package
Ken Langone, chairman of one of the nation’s premier hospitals, warned both political parties to “redeem themselves” and pass a coronavirus stimulus package right away.
“To our people in Washington: Get off your asses! There’ll be plenty of time to argue philosophy and points of view. Right now, we need a bad transfusion in America. And they better get it done and better get it done today,'” said the billionaire chairman of the board of the NYU Langone Medical Center.
Langone, a political conservative who helped start Home Depot and founded of investment firm Invemed Associates, said the American people are closely watching what Washington does. —Matthew J. Belvedere
8:49 am: Global cases top 350,000, death toll passes 15,000 as pandemic takes hold
Medical take a patient’s coronavirus test during a trial run for a new FEMA drive-thru coronavirus testing clinic at CVS at 720 Boston Turnpike in Shrewsbury, MA on March 19, 2020.
John Thlumacki | Boston Globe | Getty Images
COVID-19 has now infected more than 350,536 people, according to Johns Hopkins University, and killed at least 15,328 people.
Global cases have more than doubled in the past week, according to the World Health Organization, and worldwide deaths have nearly tripled.
Outside of China, where the virus emerged in December, Italy has the most confirmed cases with nearly 60,000. —Will Feuer
8:29 am: The Fed just pledged asset purchases with no limit to support markets
The Federal Reserve said it will launch a barrage of programs aimed at helping markets function more efficiently in the wake of the coronavirus crisis.
Among the initiatives is a commitment to continue its asset purchasing program “in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.”
Others include an unspecified lending program for Main Street businesses and the Term Asset-Backed Loan Facility implemented during the financial crisis. There will be a program worth $300 billion “supporting the flow of credit” to employers consumers and businesses and two facilities set up to provide credit to large employers. —Jeff Cox
7:55 am: Broad testing across the US could be months away, Roche CEO says
Broad testing of every American, symptoms or not, could still be “weeks if not months” away, according to Severin Schwan, CEO of Roche, which has developed a coronavirus test being used in the U.S.
Schwan said his company has rolled out about 400,000 test kits over the past week. The kits are being used in every state, he said. Schwan added that U.S. testing capacity is still too low. “Demand continues to be much higher than supply,” he said. —Will Feuer
7:05 am: Cisco commits $225 million as Silicon Valley initiates investment blitz
7 am: Spain reports 462 new deaths, taking total fatalities to 2,182
A tourist wearing a protective mask takes a selfie outside the Sagrada Familia in Barcelona on March 11, 2020 after Spain banned all air traffic from Italy, closed schools and blocked fans from football matches after being caught off-guard by a near tripling of coronavirus infections in less than 48 hours.
Lluis Gene | AFP | Getty Images
Spain’s health ministry confirmed 462 deaths overnight, bringing the country’s total number of COVID-19 fatalities nationwide to 2,182.
Spain has reported the fourth-highest number of infections worldwide to date, according to Johns Hopkins University, behind China, Italy and the U.S., respectively. Prime Minister Pedro Sanchez announced Sunday his intention to extend the country’s state of emergency by 15 days. —Sam Meredith
6:58 am: Top US health official says it’s ‘premature’ to say if the US has failed
Dr. Anthony Fauci speaks as US President Donald Trump listens during the daily press briefing on the Coronavirus pandemic situation at the White House on March 17, 2020 in Washington, DC.
Brendan Smialowski | AFP | Getty Images
The battle against the coronavirus pandemic is like “the fog of war,” top U.S. health official Dr. Anthony Fauci said in an interview with Science magazine. He said it was “premature” to assess whether the U.S. plan has failed or not.
Fauci, who director of the National Institute of Allergy and Infectious Diseases, has been on the front line of the government response to the COVID-19 outbreak.
“It’s almost like the fog of war. After the war is over, you then look back and say, ‘Wow, this plan, as great as it was, didn’t quite work once they started that throwing hand grenades at us,'” Fauci said. —Weizhen Tan
5:10 am: Poland urges International Olympics Committee to delay Tokyo 2020 Games
People wearing protective face masks, following an outbreak of the coronavirus, are seen next to the Olympic rings in front of the Japan Olympic Museum in Tokyo, Japan, February 26, 2020.
Athit Perawongmetha | Reuters
Poland’s representatives are calling on the International Olympics Committee to delay the Tokyo 2020 Games.
The request comes less than 24 hours after the IOC said it would step up its planning of the event to safeguard the health of everyone involved. The Olympic Games are scheduled for July 24 through to Aug. 9, with the Paralympic Games set to run from Aug. 25 to Sept. 6.
Canada has said it will not send teams to compete in the Olympic and Paralympic Games this summer, saying “nothing is more important than the health and safety of our athletes and the world community.” —Sam Meredith
4:30 am: European markets tumble; Stoxx 600 down 4.5%
European markets traded lower as the coronavirus outbreak continues to take its toll on the international community and financial markets. The pan-European Stoxx 600 fell 4.5% shortly after the opening bell, with industrials plunging 6% to lead losses as all sectors and major bourses slid deep into negative territory. —Holly Ellyatt
3:50 am: Hong Kong to ban all tourists
A security guard wearing protective gear checks the temperature of the visitor at the entrance of Accident & Emergency at Princess Margaret Hospital in Hong Kong, China, on Feb. 4, 2020.
Hong Kong will ban all tourists to the city starting Wednesday, leader Carrie Lam announced Monday. The city’s chief executive also said people coming from Taiwan and Macao, including Hong Kong residents, would need to be quarantined. —Sam Meredith
Read CNBC’s coverage from CNBC’s Asia-Pacific and Europe teams overnight here: New Zealand prepares for lockdown; Hong Kong to ban tourists