Live ticker on the corona virus: World doctor president criticizes mask requirement

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Merkel: “This pandemic is a democratic imposition”

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US deaths top 7,000, Fauci warns about ‘knockout drug’

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 1,088,878
  • Global deaths: At least 58,773
  • US cases: At least 270,473
  • US deaths: At least 7,077

The data above was compiled by Johns Hopkins University.

6:21 pm: Coronavirus could cause $1 billion loss for NBA, NHL and MLB broadcasters, ad firm says

The coronavirus pandemic could cause roughly $1 billion in lost advertising for broadcasters of the top three U.S. pro sports leagues, according to ad firm MediaRadar.

The advertising information company released its findings showing how the virus would affect ad spend for the sports industry. The analysis found that combined, the National Basketball Association, National Hockey League and Major League Baseball would generate roughly $1 billion for broadcasters.

And that number could significantly increase if the National Football League experiences any delays due to coronavirus. The NFL’s season isn’t scheduled to start until September. —Jabari Young

6:16 pm: Updated map of US cases, which now total 270,473

6:09 pm: Next coronavirus relief bill should make health care a priority, McConnell says

Senate Majority Leader Mitch McConnell said that health care must be at the “top of the list” in the next coronavirus rescue package.

In an interview with The Associated Press, the Republican leader said Congress should focus on correcting any shortcomings in the just-passed $2.2 trillion aid bill and rely on health care experts for solutions to “wipe out” the virus.

“There will be a next measure,” McConnell said about what would be the fourth coronavirus aid bill from Congress.

The Kentucky Republican said the next package “should be more a targeted response to what we got wrong and what we didn’t do enough for — and at the top of the list there would have to be the health care part of it.” —Associated Press

6:02 pm: Treasury makes coronavirus loan terms less favorable for small businesses

The Treasury Department changed the terms on some loans it’s offering to small businesses during the coronavirus pandemic, making them less favorable for borrowers, experts say.

The loans at issue are being made through the Paycheck Protection Program, which offers up to $10 million in forgivable loans to businesses with 500 or fewer employees.

The program, which officially opened for many borrowers on Friday morning, will dole out up to $349 billion to ailing small businesses to help cover costs like payroll, rent and utilities. The loans are made through lenders approved by the Small Business Administration and other institutions. —Greg Iacurci

5:45 pm: CDC recommends cloth face covering to protect against coronavirus, Trump says

President Donald Trump said the Centers for Disease Control recommends using a cloth face covering to protect against coronavirus, but said he does not plan to do so himself.

Trump stressed that the recommendations were “voluntary.”

The CDC’s website explained that the guidance was updated following new studies that some infected people can transmit the coronavirus even without displaying symptoms of the disease.

“In light of this new evidence, CDC recommends wearing cloth face coverings in public settings where other social distancing measures are difficult to maintain,” such as in grocery stores or pharmacies, “especially in areas of significant community-based transmission,” the CDC says. —Christina Wilkie

5:25 pm: Ace Hardware ramps up hiring as pandemic, spring season leads to more demand

Ace Hardware plans to hire more than 30,000 employees as they see more demand for home repair items and cleaning products during the coronavirus pandemic. The Illinois-based hardware cooperative is hiring full-time, part-time and seasonal employees at its more than 4,300 stores across the U.S. Home improvement retailers, including Ace Hardware, usually do seasonal hiring in the spring.

It’s the busiest season for the stores as people take advantage of warmer weather to garden or do home projects. This year, customers are turning to the stores during the pandemic, too, to get cleaning supplies or items for home maintenance and repairs as they stay indoors. Lowe’s, which also said it’s seen more business, and Home Depot are also looking to fill thousands of jobs. —Melissa Repko

5 pm: Auto retailers furlough workers

AutoNation, the nation’s largest U.S. auto dealership chain, is placing 7,000 employees on unpaid leave, slashing executive pay and postponing more than $50 million of capital spending as its year-over-year sales declined by about 50% last month, according to a Friday filing with the U.S. Securities and Exchange Commission.

The company, as automakers did earlier in the week, cited “shelter-in-place” or “stay-at-home” orders from federal, state, and local governments as reasons for the decline in sales.

J.D. Power earlier in the week forecast retail sales this month to decline by about 80% compared with April 2019 due to stay-at-home orders and COVID-19′s overall impact on the economy and consumer confidence. Retail sales do not include sales to fleet customers such as the government or businesses.

AutoNation’s actions follow similar cuts from other publicly traded auto retailers such as Penske Automotive Group and Group 1 Automotive. —Michael Wayland

4:45 pm: California secures 7,000 hotel rooms for the homeless

California Governor Gavin Newsom

Agustin Paullier | AFP | Getty Images

California has secured 7,000 rooms and hopes to reserve as many as 15,000 to house homeless people as the state fights the COVID-19 coronavirus outbreak.

A total of 869 people have moved in so far, Gov. Gavin Newsom said. “Homelessness is a crisis that predates the current crisis. We’re doing everything we can to meet it head-on,” he said. The project, called “Room Key,” will be partially funded by FEMA, which will reimburse cities and counties for 75% of the costs, according to Newsom.

Newsom’s announcement comes a day after San Francisco reported its first COVID-19 case in a homeless shelter. —Kif Leswing

4:30 pm: Mexico stops brewing Corona beer, deemed non-essential in epidemic

Mexico’s Grupo Modelo said on Thursday it will temporarily stop brewing Corona beer and other brands exported to 180 countries after its business activities were declared non-essential under a government order aimed at curbing the spread of the coronavirus.

The Mexican government this week declared a health emergency and ordered the suspension of non-essential activities after the number of coronavirus cases in the country surpassed 1,000. On Thursday, it reported 1,510 cases and 50 deaths. —Reuters

4:20 pm: Economic damage rises as coronavirus hit worsens – here’s what to watch

The latest jobs report on Friday shone a light on the economic damage of the coronavirus crisis.

U.S. nonfarm payrolls dropped by 701,000 jobs in March, according to the Labor Department. This comes after data released Thursday that showed a record-breaking 6.6 million new jobless claims last week.

Five experts weigh in on the economic fallout. —Ivana Freitas

4:03 pm: Dow drops more than 300 points to close out another wild week on Wall Street

Stocks fell on Friday to end another volatile week of trading, pressured by a spike in coronavirus-related deaths in New York while investors digested a dismal U.S. jobs report.

The Dow Jones Industrial Average slid 357 points, or 1.7% in wild trading. The S&P 500 dropped 1.5%. The Nasdaq Composite also pulled back 1.5%. —Fred Imbert, Silvia Amaro, Thomas Franck

3:31 pm: Supreme Court postpones more oral arguments

The U.S. Supreme Court said it will postpone oral arguments scheduled for the last two weeks of April, and left open the possibility that some previously scheduled cases will not be heard at all before the end of the current term.

The court announced last month that cases set for late March and early April would be delayed as a health precaution, noting that the last time such a precaution had been taken was for the 1918 Spanish flu. Among the delayed cases were high-profile disputes of President Donald Trump’s financial records.

“The Court will consider rescheduling some cases from the March and April sessions before the end of the Term, if circumstances permit in light of public health and safety guidance at that time,” a spokesperson said in a statement. “The Court will consider a range of scheduling options and other alternatives if arguments cannot be held in the Courtroom before the end of the Term.”

The court will continue to decide cases for which it has already heard arguments, with opinions posted on its website. The Supreme Court term typically ends in June. —Tucker Higgins

3:24 pm: Field hospitals go up around the world

An emergency field hospital is being constructed in Central Park in New York City, United States on March 30, 2020.

Lokman Vural | Elibol | Anadolu Agency | Getty Images

Healthcare systems in countries around the world have been overwhelmed fighting the pandemic, forcing governments to build temporary field hospitals to help deal with the growing numbers of their infected population.

In Wuhan, China where the coronavirus first originated, two massive emergency hospitals were built in just 10 days. In New York, the epicenter of cases in the U.S., field hospitals have now been set up in the Jacob K. Javits Convention Center and Central Park, and the USTA Billie Jean King National Tennis Center has been converted into a 350-bed hospital.

Here are photos of field hospitals around the world. —Adam Jeffery

3:12 pm: Pentagon adjusts screening process for care on hospital ship in New York

The Pentagon announced it will modify the screening process for people to receive care on the hospital ship USNS Comfort in order to reduce the backlog of patients at New York hospitals.

The screening effort will now occur pier-side and will no longer require a patient to test negative for the coronavirus.

“Each patient will still be screened by temperature and a short questionnaire,” the Pentagon said. “This assistance will further unburden the local hospital and ambulance systems in these areas, allowing them to focus on the more serious COVID-19 cases.”

On Thursday, the captains of the U.S. Navy’s two hospital ships said that the vessels have treated fewer than 20 patients since deploying to New York and Los Angeles. —Amanda Macias

2:49 pm: Disney sets new dates for ‘Mulan,’ ‘Black Widow,’ ‘Jungle Cruise’ and more

Disney is making drastic changes to its 2020 movie slate in the wake of the outbreak.

The company revealed a number of films would be shifted to later dates on the calendar this year and into 2021 and 2022. Other films would be pushed to Disney+ or were not given a new release date as of yet.

Here’s Disney’s new slate. —Sarah Whitten

2:42 pm: Anyone near Trump or Pence will be given rapid coronavirus test-White House

With the coronavirus contagion spreading, the White House said anyone expected to be near President Donald Trump or Vice President Mike Pence will be given a rapid COVID-19 test.

“As the physician to the president and White House Operations continue to protect the health and safety of the president and vice president, starting today anyone who is expected to be in close proximity to either of them will be administered a COVID-19 test to evaluate for pre-symptomatic or asymptomatic carriers status to limit inadvertent transmission,” said White House spokesman Judd Deere. —Reuters

2:35 pm: Etsy calls on sellers to make masks and face covers

E-commerce website Etsy is calling on its existing sellers to make masks and face covers amid growing demand during the coronavirus pandemic.

“We’re experiencing unprecedented demand,” Etsy said in an app notification sent to sellers. “You can make a difference.”

The company offered guidelines on how to list face covers and masks on the online marketplace, including warnings against making health or medical claims about the items and against reselling commercially made products. The company also offered suggestions for how to match descriptions of the products with what shoppers are searching for. —Sarah Whitten

2:22 pm: Bank of America says 58,000 small businesses have asked for $6 billion in loans since 9 a.m.

2:16 pm: Loan program delayed for independent contractors and self-employed workers

2:01 pm: Trump compelled companies to make critical supplies, but most of them were already doing it

President Donald Trump, after much reluctance, has used the powers of the Defense Production Act to compel companies to manufacture items in short supply that would aid in the U.S. response to the deadly coronavirus.

The bulk of the companies assisting with emergency supply production were compelled to do so on Thursday, more than two weeks after Trump signed the executive order triggering the Korean War-era law. In a statement, the president said his order would “more fully ensure that domestic manufacturers can produce ventilators needed to save American lives.”

“My order to the Secretary of Health and Human Services and the Secretary of Homeland Security will help domestic manufacturers like General Electric, Hill-Rom, Medtronic, ResMed, Royal Philips, and Vyaire Medical secure the supplies they need to build ventilators needed to defeat the virus,” the statement continued.

Many of them had already ramped up production. —Yelena Dzhanova

1:55 pm: Airlines ordered to give refunds — not just vouchers — when flights are axed amid coronavirus

A worker walks through a baggage claim area at a nearly-empty O’Hare International Airport on April 2, 2020 in Chicago, Illinois.

Scott Olson | Getty Images

The Department of Transportation said that airlines must give customers refunds when flights are canceled or significantly delayed amid coronavirus.

The agency said it has received an increasing number of complaints from airline customers who said they were denied refunds for canceled or significantly delayed flights and instead given vouchers to use for travel at a later date.

“In recognition of the fact that the COVID-19 public health emergency has had major impacts on the airline industry, the Aviation Enforcement Office will exercise its prosecutorial discretion and provide carriers an opportunity to become compliant before taking further action,” the agency said. —Leslie Josephs

1:44 pm: Dow drops 500 points as sell-off accelerates to end a wild week

1:11 pm: Coronavirus pandemic economic fallout ‘way worse than the global financial crisis,’ IMF chief says

The coronavirus pandemic has created an economic crisis “like no other,” the top International Monetary Fund official said.

“Never in the history of the IMF have we witnessed the world economy come to a standstill,” said IMF managing director Kristalina Georgieva.

“This is in my lifetime humanity’s darkest hour, a big threat to the whole world, and it requires for us to stand united, be united,” Georgieva said during a World Health Organization press conference.

“It is way worse than the global financial crisis” of 2008-09, she said. “This is a crisis like no other.” —Dan Mangan

12:55 pm: WHO says countries that rush to containment risk ‘more severe and prolonged’ damage to economy

Countries that rush to lift quarantine restrictions risk an “even more severe and prolonged” economic downturn and a resurgence in COVID-19 cases, World Health Organization Director-General Tedros Adhanom Ghebreyesus warned.

“We are all aware of the profound social and economic consequences of the pandemic,” Tedros said during a briefing at the agency’s headquarters in Geneva. “Ultimately the best way for countries to end restrictions and ease their economic effects is to attack the virus.” —Berkeley Lovelace Jr.

12:46 pm: Forced off the campaign trail by coronavirus, House candidates reach more voters than ever

The coronavirus pandemic has changed almost everything about American life. Businesses are closed, people are home, and, for millions, the economic devastation has been life-altering.

For those running for the House of Representatives, the crisis poses unique problems. Campaigning is a handshake, kiss-the-baby business, and so is its lifeblood — fundraising. You can’t get out the vote if you can’t get out.

But interviews with candidates, strategists and fundraisers in recent days suggest that contenders in both parties are adjusting to the downturn with early signs of success. There are worries that the money will dry up, but it hasn’t yet. Voters, cooped up at home and worried about the future, are tuning in.

“What we are learning is that people are looking forward to distraction right now,” said Mike Garcia, a California Republican who is running in a special election for the House seat vacated by former Rep. Katie Hill. “People are paying attention.” —Tucker Higgins

12:27 pm: Detroit automakers creating new ‘arsenal of health’

Ford Motor employee Pat Tucker is among the autoworkers assisting the Detroit automakers in creating a new “arsenal of health” to assist health-care workers during the coronavirus pandemic.

The 55-year-old grandmother has been working 12-hour shifts every day for nearly two weeks to build much-needed medical face shields at a Ford subsidiary facility in Plymouth, Michigan.

“I want to help end this. I want to be here to watch my grandchildren grow up and graduate and get married, and I want them to be able to grow up,” she told CNBC Thursday night. “I enjoy helping people.”

She’s not alone. As they did nearly 80 years ago to assist the “Arsenal of Democracy” during World War II, employees at each of the Detroit automakers are assisting where they can.

Ford’s COVID-19 efforts are code-named “Project Apollo.” General Motors is executing “Project V” and “Project M.” Fiat Chrysler didn’t code-name its efforts but is assisting in feeding American children and making supplies during the outbreak as well. —Michael Wayland

12:18 pm: U.S. banks have processed more than $875 million in small business relief loans

U.S. Treasury Secretary Steven Mnuchin said community banks have processed more than $875 million in small business loans aimed at shoring up the economy amid the global coronavirus pandemic, and he sounded a positive note about a new program that lenders have greeted with skepticism.

“#PPPloan now over $875,000,000 processed almost all from community banks!” Mnuchin wrote on Twitter. “Big banks taking applications and will submitting them shortly.” —Reuters

12:05 pm: Free meals available to New Yorkers

The New York City Department of Education is making three free daily meals available to any New Yorker. People can pick up the meals at any of the city’s 400 Meal Hubs on weekdays, according to the DOE.

Children and families can access the hubs from 7:30 a.m. to 11:30 a.m., while adults can go from 11:30 a.m. to 1:30 p.m. Registration or identification is not required to obtain the meals, and halal and vegetarian options are available.

New Yorkers can use the DOE’s Meal Hub online lookup tool to find a pickup location.—Hannah Miller

11:55 am: ‘It’s only right’ — Cramer, a restaurant owner, says the government closed us, so it should help

Leaning on his experience as a restaurant owner, CNBC’s Jim Cramer said the U.S. government has an obligation to aid small businesses that are shut down during the coronavirus pandemic.

“I had a business that was closed. It was doing great, and then one day I learned I was closed,” Cramer said on “Squawk on the Street.” “You better help.”

Cramer owns Bar San Miguel and co-owns The Longshoreman, both in Brooklyn, New York.

The “Mad Money” host’s comments Friday came on the launch day of a $350 billion government program to help small business owners who are trying to navigate the economic shock from the coronavirus. —Kevin Stankiewicz

11:47 am: Scammers swooping in amid coronavirus pandemic

Coronavirus scams are on the rise.

Government agencies, like the IRS, the Federal Trade Commission and the Social Security Administration, are warning consumers to be vigilant as fraudsters try to take advantage of them during the coronavirus pandemic.

“Whenever crises erupt, the scammers and fraudsters have a heyday,” said Sally Greenberg, executive director of the National Consumers League, a consumer advocacy group. “We see so much fraud related to COVID-19 because people need answers, aren’t thinking straight and are somewhat confused.”

There’s been an uptick in financial fraud connected to the $2 trillion coronavirus relief package signed into law last week. —Greg Iacurci

11:39 am: Markets expect depression-level job losses, but the duration of the shutdowns is a much bigger worry

Stocks and bonds had a relatively muted response to the March employment report, which was far worse than forecast but barely reflected the unprecedented collapse of the labor market and the loss of millions of jobs from the coronavirus shutdowns.

Nonfarm payrolls fell by 701,000 in March, seven times what was forecast, but just a fraction of the actual jobs lost, which already have shown up in 10 million unemployment claims in the second half of March.

What the March employment report does show is the loss of 459,000 jobs in the leisure industry, showing how quickly the restaurant and hotel industry pared back staff, even ahead of major state shutdown orders.

“We all know things are terrible. We all know millions of people are losing their jobs,” said Peter Boockvar, chief investment strategist at Bleakley Advisory Group. “We had this sharp decline in anticipation of this news. The next batch of news we don’t know is what is the duration of this and what is going to happen in May. We hope at the end of April that we are looking at a slow reopening.” —Patti Domm

11:31 am: It’s ‘absurd’ – 3M CEO defends coronavirus response after Trump invokes DPA

The CEO of 3M said his company is maximizing its efforts to get respirator masks to U.S. health workers fighting the coronavirus, pushing back on what he called President Donald Trump’s “absurd” suggestion that the manufacturer was not doing all it could.

“Nothing is further from the truth,” CEO Mike Roman said on CNBC’s “Squawk on the Street” when told of Trump’s tweet slamming 3M “after seeing what they were doing with their Masks.”

Trump on Thursday issued an order under the Defense Production Act directing acting Homeland Security Secretary Chad Wolf to “use any and all authority available under the Act to acquire, from any appropriate subsidiary or affiliate of 3M Company, the number of N-95 respirators that the Administrator determines to be appropriate.”

Later Thursday, Trump tweeted, “We hit 3M hard today.” —Kevin Breuninger

11:25 am: New York Gov. Cuomo says state saw its biggest single-day increase in coronavirus deaths on Thursday

Gov. Andrew Cuomo said that 562 New Yorkers died from the coronavirus over the last 24 hours, the highest single increase in deaths since the outbreak began a few weeks ago. A total of 2,935 New Yorkers have died from the coronavirus.

“The curve continues to go up,” Cuomo said at a press conference in Albany, referring to the number of new COVID-19 cases across the state. There are 102,863 confirmed cases across the state, a 10% jump overnight, according to charts presented at the press conference. New York City alone accounts for 57,159 total cases, up 5,350 over the last 24 hours. —Noah Higgins-Dunn

Correction: This entry has been updated to reflect that 562 New Yorkers died from coronavirus over the last 24 hours.

11:16 am: Dr. Anthony Fauci warns we shouldn’t assume hydroxychloroquine is a ‘knockout drug’

Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, participates in the daily coronavirus task force briefing in the Brady Briefing room at the White House on March 31, 2020 in Washington, DC.

Win McNamee | Getty Images

Americans shouldn’t assume hydroxychloroquine is a “knockout drug” in preventing or treating COVID-19, White House health advisor Dr. Anthony Fauci warned.

“We still need to do the definitive studies to determine whether any intervention, not just this one, is truly safe and effective,” Fauci, the director of the National Institute of Allergy and Infectious Diseases, said on Fox News. “But when you don’t have that information, it’s understandable why people might want to take something anyway even with the slightest hint of being effective.”

New York state last week began the first large-scale clinical trial looking at hydroxychloroquine as a possible treatment for the coronavirus after the Food and Drug Administration fast-tracked the approval process. —Berkeley Lovelace Jr.

11:12 am: This chart shows which industries saw big job losses in March 2020

Among the hardest-hit areas of the economy in March was accommodation and food services sector, which had more than half of the month’s net losses. Businesses that prepare meals, snacks and beverages for customers for either on-premise (sit-down restaurants and bars) or off-premise (delivery and take-out) consumption saw payrolls slide by 417,000.

The broader leisure and hospitality sector, which includes that 417,000 decline in the food services industry, saw payrolls decline by 459,000 as hotels and other lodging businesses also cut jobs. This employment decline nearly offset gains accrued over the previous two years.

The government described the degree of losses in that industry (as well as in health care and social assistance) as “notable” and said the nosedive reflects the nationwide effort to contain the spread of COVID-19. —Thomas Franck

11:02 am: 3M warns Trump that halting exports would reduce number of masks available to US

3M warned that the Trump administration’s request for the company to stop exporting respirator masks could make the protective gear less available in the U.S.

The American manufacturing giant shared that caution a day after President Donald Trump invoked the Defense Production Act to force 3M to produce respirator masks.

The company said it was already working with the administration on getting more masks to the U.S. —Kevin Breuninger

10:57 am: Dismissed US carrier captain to be reassigned during probe, acting Navy secretary says

Captain Brett Crozier, commanding officer of the U.S. Navy aircraft carrier USS Theodore Roosevelt, addresses the crew during an all-hands call on the ship’s flight deck in the eastern Pacific Ocean December 19, 2019.

Mass Communication Specialist 3rd Class Nicholas Huynh | US Navy

The fired commander of a U.S. aircraft carrier that suffered a coronavirus outbreak will not be thrown out of the Navy but rather reassigned, acting Navy Secretary Thomas Modly told Reuters, adding that an investigation would determine if he should face disciplinary action.

Modly said the probe would look into the communications and the chain of command after Capt. Brett Crozier was relieved of his command for sharing a scathing letter regarding the outbreak of the virus on the USS Theodore Roosevelt too widely, effectively allowing it to be leaked to the media.

“He’ll get reassigned, he’s not thrown out of the Navy,” Modly said. —Reuters

10:51 am: US, Spain, and Italy continue to outpace the world in the number of cases

10:46 am: Brazil’s leader under intensifying pressure over coronavirus denial

Brazilian President Jair Bolsonaro has sparked public outcry over his laissez-faire handling of the coronavirus crisis, with a movement to impeach the right-wing nationalist leader gaining popular support. The president of Latin America’s largest economy has repeatedly played down the threat of the pandemic, dismissing it as a “little flu” and condemning state governors for imposing lockdowns that are causing job losses.

He has also contradicted his own health minister’s advice over self-isolation and social distancing, encouraging people to end their time in quarantine and return to work.

All but three of Brazil’s 27 states have refused to relax lockdown measures, and citizens in many urban centers can be heard banging pots and pans from their homes each evening as an act of protest to the president’s demands. —Sam Meredith

10:21 am: Another figure in the jobs report paints an even gloomier picture of the damage

The government’s survey of establishments painted a grim picture of the U.S. employment situation through early March, but its poll of households was far worse.

The household survey, which asks individual residents how many people are working there, showed a stunning drop of 2,987,000 workers for the month.

That compares with the 701,000 nonfarm payrolls decline reported in the establishment survey and gives another perspective to just how bad the situation has gotten since the economy has all but shut down to protect against the coronavirus spread. —Jeff Cox

10:09 am: Florida finally takes cruise passengers, some on stretchers

A patient is taken off the the Zaandam cruise ship after it arrived at Port Everglades on April 02, 2020 in Fort Lauderdale, Florida.

Joe Raedle | Getty Images

Passengers from an ill-fated cruise were carefully freed from their cabins and allowed to touch dry land for the first time in weeks, following the removal of 14 critically ill people who were wheeled off to Florida hospitals bracing for an onslaught of coronavirus patients.

The exodus from the Zaandaam and its sister ship the Rotterdam was expected to continue throughout the day. Floridians were getting off first, followed by other passengers.

At least four buses brought the first small groups to Fort Lauderdale-Hollywood International Airport, where they prepared to board two planes waiting on the tarmac. The passengers wore masks, while paramedics and airline workers were fully suited up and masked in protective gear.

They’ll be followed by what Carnival said was its last ship carrying passengers to a U.S. port since the pandemic was declared. The Coral Princess is expected to arrive at the Port Everglades terminal on Saturday with more than 1,000 passengers who have been isolating in their cabins, including 12 confirmed cases of COVID-19 on board. —Associated Press

10:03 am: US services sector growth slows while employment drops, ISM reports

U.S. services sector activity slowed to a more than 3½-year low in March, with industries reporting a moderation in new orders and a drop in employment amid the coronavirus pandemic.

The Institute for Supply Management said its nonmanufacturing activity index fell to a reading of 52.5 last month, the lowest since August 2016, from 57.3 in February.

A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity. Economists polled by Reuters had forecast the index dropping to a reading of 44.0 in March. —Reuters

9:55 am: FedEx slashes CEO’s salary, draws $1.5 billion from its credit line

FedEx said it would slash its chief executive officer’s pay and draw down $1.5 billion from a credit facility as delivery services take a hit from coronavirus-led lockdowns across the globe.

The company, which also suspended its financial outlook, said its board had approved a 91% reduction in CEO Frederick Smith’s base salary for six-month period from April 1 to Sept. 30. —Reuters

9:51 am: Pelosi wants more small business loans, direct payments, and unemployment benefits

US Speaker of the House Nancy Pelosi speaks to the press after the House passed a $2 trillion stimulus bill, on March 27, 2020, at the US Capitol in Washington, DC.

Alex Edelman | AFP | Getty Images

House Speaker Nancy Pelosi called for another bill to expand the provisions in the $2 trillion package Congress passed last week to limit the economic devastation from the coronavirus pandemic.

“It’s not enough,” Pelosi told CNBC’s “Squawk on the Street” about the last relief measure, after the government employment report showed the U.S. economy lost 701,000 jobs in early March as businesses started to close.

The California Democrat said she wants more direct payments to individuals, beyond the chunks of up to $1,200 lawmakers previously approved. She pushed for more small business loan funding beyond the $350 billion in the last law, and to extend beefed-up unemployment insurance for two more months. —Jacob Pramuk

9:44 am: The White House tried to force 3M to send face masks to US instead of Asia, report says

The White House reportedly tried to force 3M to export 10 million N95 respirator masks from its Singapore facilities to the U.S. rather than sending them to its markets in Asia, the Financial Times first reported, citing a person familiar with the conversations.

The Minnesota-based company was reluctant to accept the White House request on legal and humanitarian grounds since health-care workers across the region would be left without protection, the person said.

Peter Navarro, the White House advisor on trade and manufacturing, said that the administration “had some issues” making sure all the production 3M does around the world is going to the right places. The White House invoked the Defense Production Act on the company in an effort to boost its production of face masks.

In a statement, 3M said the administration also requested the company cease exporting respirators to Canadian and Latin American markets, however, it said there are significant humanitarian implications of doing so. —Noah Higgins-Dunn

9:15 am: New Google site shows where people are taking social distancing seriously — and where they’re not

Google has launched a new website that uses anonymous location data collected from users of Google products and services to show the level of social distancing taking place in various locations.

The COVID-19 Community Mobility Reports web site will show population data trends of six categories: Retail and recreation, grocery and pharmacy, parks, transit stations, workplaces, and residential. The data will track changes over the course of several weeks, and as recent as 48-to-72 hours prior, and will initially cover 131 countries as well as individual counties within certain states.

Google says the data will be collected in aggregate, rather than at an individual level, and it won’t show absolute numbers of people showing up at parks or grocery stores. The idea instead is to outline percentages, which highlight potential surges in attendance. —Jennifer Elias

9:00 am: ‘The Hot Zone’ author warns the next pandemic could ‘balloon faster’ than the coronavirus

The world will experience another pandemic, and it could be even more severe than the new coronavirus, author Richard Preston told CNBC on Friday.

“We hear some people saying, ‘Well this is a once-in-a-100-year event.’ It is absolutely not,” Preston said on “Squawk Box.” “I think a worse-case scenario could be worse than coronavirus.”

Preston is the author of the 1994 book, “The Hot Zone: The Terrifying True Story of the Origins of the Ebola Virus.” It was the basis of 2019 TV mini-series from the National Geographic Channel. —Kevin Stankiewicz

8:56 am: Small businesses have ‘a million questions’ about paycheck relief loan as applications come due

Millions of small business owners on Friday will start applying for government-backed loans that will let them pay people not to work with the hope that once the economy reopens companies can pick up where they left off. But confusion about the Small Business Administration loans is widespread at banks and among potential borrowers.

The banks responsible for accepting the applications and distributing the money aren’t all up to speed and, inundated with inquiries, are relaying differing messages to their clients. CNBC reported on Thursday that JPMorgan Chase, the biggest U.S. bank, told customers by email that it would likely not be ready to start taking applications on Friday.

The loan in question is the paycheck protection program (PPP), and it accounts for $349 billion of the $2 trillion coronavirus rescue package, or CARES Act, passed by Congress and signed into law last week. Businesses with fewer than 500 employees are eligible, and that includes independent contractors. Employers can apply to receive up to 2.5 times their average monthly payroll expense, including health-care benefits, for annual salaries up to $100,000. Loans max out at $10 million. —Ari Levy

8:40 am: The White House tried to force 3M to send face masks from Singapore to US, report says

The White House tried to force 3M to export 10 million N95 respirator masks from its Singapore facilities to the U.S., rather than sending them to its markets in Asia, the Financial Times first reported, citing a person familiar with the conversations. The Minnesota-based company was reluctant to accept the White House request on legal and humanitarian grounds since healthcare workers across the region would be left without protection, the person told the FT.

The White House invoked the Defense Production Act in an effort to boost 3M’s production of face masks. In a statement, 3M said the administration also requested the company cease exporting respirators to Canadian and Latin American markets. However, it said there are significant humanitarian implications of doing so.

“Ceasing all export of respirators produced in the United States would likely cause other countries to retaliate and do the same, as some have already done,” the company said in a statement. “If that were to occur, the net number of respirators being made available to the United States would actually decrease.” —Noah Higgins-Dunn

8:33 am: US payrolls drop 701,000 in March, the first jobs decline since 2010

Nonfarm payrolls dropped by 701,000 in March, according to Labor Department numbers that begin to show the economic damage wrought by the coronavirus crisis.

The unemployment rate rose to 4.4% as employers just began to cut payrolls ahead of social distancing practices that shut down large swaths of the U.S. economy in order to stop the virus’s spread.

Economists surveyed by Dow Jones had been looking for a payroll decline of 10,000 and for the unemployment rate to rise to 3.7%. —Jeff Cox

8:20 am: Cannes Lions advertising festival, previously postponed, is now canceled

The Cannes Lions International Festival of Creativity, the ad industry’s major awards festival and conference held in France each summer, has been canceled due to the coronavirus.

The festival, originally scheduled for June 22 through June  26, was postponed in March to Oct. 26 through Oct 30, but organizers announced the decision to cancel it for good this year.

“As the impact from COVID-19 continues to be felt across the world on consumers and our customers across the marketing, creative and media industries, it has become clear to us our customers’ priorities have shifted to the need to protect people, to serve consumers with essential items and to focus on preserving companies, society and economies,” organizers said in a statement Friday.

The next festival will take place June 21 through June 25 in 2021. —Megan Graham

8:09 am: Italian luxury shoemaker Sergio Rossi dies

Italian luxury shoemaker Sergio Rossi has died aged 85 after being hospitalized with the coronavirus, the mayor of the designer’s home town said.

Italy has recorded more deaths from coronavirus than any other country in the world, with 13,915 fatalities as of Thursday. The elderly have been particularly hard hit. Rossi died on Thursday in the small town of Cesena in central Italy.

“He was among the founders of the high-end women’s footwear district in the area of Forlì and Cesena in the mid-20th century,” said Luciana Garbuglia, mayor of San Mauro Pascoli, where Rossi was born in 1935 and where he founded his brand.

French luxury fashion group Kering took over the brand in 1999. It then passed into the hands of the Italian private equity fund Investindustrial in 2015, when Rossi had already retired. —Reuters

7:56 am: Spain cases surpass Italy’s, now second in the world

A general view of the temporary hospital for COVID-19 patients located at the Ifema convention and exhibition centre in Madrid, Spain taken on April 03, 2020.

Pierre-Philippe Marcou | AFP via Getty Images

As of 6 a.m. ET, Spain had reported 117,710 confirmed cases, according to Johns Hopkins University, surpassing the total count of cases in Italy, the original epicenter of Europe’s outbreak. According to Hopkins, Italy had reported 115,242 cases as of 6 a.m. That makes Spain second in the world for COVID-19 cases, behind only the U.S. Spain typically reports daily new cases several hours ahead of Italy, and the numbers will likely change throughout the day. —Will Feuer

7:30 am: UK health minister suggests nationwide peak could be Easter Sunday

U.K. Health Minister itMatt Hancock reportedly said the deadliest peak of Britain’s coronavirus outbreak could be on Easter Sunday.

In an interview with Sky News, Hancock said he “would defer to the scientists on exact predictions,” but the peak of the U.K. outbreak falling on April 12 was “one perfectly possible outcome.”

To date, the U.K. has reported more than 34,000 cases of the COVID-19 infection, with 2,926 deaths, according to data compiled by Johns Hopkins University. —Sam Meredith

7:19 am: BMW CEO says the company is working to safeguard liquidity

An employee inspects the body frame of a BMW X4 sports utility vehicle on the assembly plant in Greer, South Carolina.

Luke Sharrett | Bloomberg | Getty Images

BMW Chief Executive Oliver Zipse said the carmaker is focusing on preserving the health of its balance sheet and workforce.

“No company can possibly get through something like this unscathed. Guaranteeing our liquidity needs to happen very quickly. The Management Board are currently meeting twice as often as normal, so we can make the necessary decisions,” Zipse said in a statement.

“We are preparing to ramp up production as soon as the time is right in full compliance with all the safety aspects, and with international coordination. It’s essential that we synchronize with the supplier network on this,” he added. —Reuters

7:10 am: March job losses could be the worst in a decade

March’s employment report could show the most monthly job losses in a decade, but it’s only a fraction of the real hit to the workforce that came when many states issued stay-at-home orders late in the month.

Economists expect a consensus decline of 100,000 nonfarm payrolls when data is released at 8:30 am ET, according to Refinitiv. But the survey for the report was done before many states began telling residents to stay home. For the final two weeks of the month, 10 million people sought unemployment benefits as businesses and schools closed to stop the spread of the coronavirus. —Patti Domm

7:06 am: European business activity craters as Brussels races to find a ‘credible’ funding plan

The coronavirus pandemic is hitting European economies sharply, with the latest economic data showing massive falls in services activity across the region.

In Italy, the services industry dropped in March at the fastest rate since the IHS Markit survey began in 1998. In Germany, the services sector laid off staff at the steepest rate in about 23 years. In Spain, services activity contracted for the first time in six-and-a-half years.

The data released Friday showed the final Composite Purchasing Managers’ Index — which includes services and manufacturing — for the whole euro zone crashed to a record low of 29.7 in March, from 51.6 in February. This was the biggest monthly fall since the survey began. —Silvia Amaro

6:00 am: Spain’s daily death toll falls for the first time since March 26

Coffins containing the bodies of people who have died of coronavirus (COVID-19) are lined up in the long-term parking of the Collserola morgue before they either buried or incinerated, on April 02, 2020 in Barcelona, Spain.

David Ramos | Getty Images

The amount of people that have died from the coronavirus in Spain has seen its first daily fall since March 26. A total of 932 people died in the last 24 hours, down from 950 people the previous day, according to Reuters who cited the country’s health ministry. Spain’s death toll now stands at 10,935. —Matt Clinch

5:33 am: China’s central bank announces new stimulus measures

The People’s Bank of China said it was reducing the amount of cash that small and mid-sized banks need to hold in reserve. It will reportedly free up around 400 billion yuan ($56.38 billion) in liquidity and aid the country’s economy which has been badly hit by the coronavirus pandemic. —Matt Clinch

4:50 am: Singapore shuts schools, closes most workplaces

People seated in a food center in Marina Bay Sands shopping mall according to safe distancing markers on March 30, 2020 in Singapore.

Ore Huiying | Getty Images

Singapore’s Prime Minister Lee Hsien Loong announced stricter social distancing measures in the city-state, joining a chorus of countries globally that have done so to stem the spread of the coronavirus.

The measures include closing most workplaces, except those offering “essential services” such as food establishments, hospitals, and transport, Lee said. All schools will also be closed temporarily, he said. The prime minister also said his government is rethinking its advice that only those who are ill need to wear masks. —Yen Nee Lee

Read CNBC’s coverage from CNBC’s Asia-Pacific and Europe teams overnight here: Spain’s services industry records ‘unprecedented’ decline, survey shows

CORRECTION: This blog has been updated to correct the spelling of Cannes Lions in the headline.

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The media briefing on “legal and regulatory compliance issues” will begin shortly

FM Nirmala Sitharaman on Coronavirus Outbreak LIVE Updates: Finance Minister Nirmala Sitharaman said he will turn to the media today at 2:00 PM during preparations to prepare an economic package that will likely help the country through the coronavirus blockade. He said in a tweet that the package would be announced soon as a priority and that he would give it to the media pressor via video conference. His speech will focus specifically on statutory and regulatory compliance issues.

Prior to Narendra Modi’s address, the entire Odisha will be locked from Tuesday to midnight due to the threat of the coronavirus, a senior state government official said. Fourteen of the state’s 30 districts are already blocked. The Madhya Pradesh government also imposed a curfew in the cities of Bhopal and Jabalpur, where coronavirus cases were found, immediately after Shivraj Singh Chouhan was sworn in as prime minister.

Finance Minister Nirmala Sitharaman said he will turn to the media today at 2:00 PM during preparations to prepare an economic package that will likely help the country through the coronavirus blockade.

India reported its tenth death on Tuesday after a 64-year-old man hospitalized in Kasturba on March 23 died within hours of admission. He had returned from the United Arab Emirates and had gone to Ahmedabad on March 15, and had returned to Mumbai on March 20.

US lawyer Larry Klayman has filed a $ 20 trillion lawsuit against China for the creation and release of the new coronavirus that has infected over 334,000 people worldwide.

Prime Minister Narendra Modi will address the nation at 20:00 on the vital aspects of the COVID-19 threat. Meanwhile, the March 26 elections in Rajya Sabha with 55 seats, scheduled for March 26, have been postponed.

Two new positive coronavirus cases have been registered in Gujarat, the total cases increasing to 33, said Gujarat (Health) chief secretary Jayanti Ravi. Meanwhile, a 54-year-old domestic passenger has been arrested at the airport for alleged refusal to follow doctors’ instructions for preventing the spread of new coronaviruses, police said Tuesday.

The number of states and territories in the Union (UT) that imposed a blockade increased to 32 compared to 30 last night. The number of districts under blockade has increased to 560 from 548. The number of coronavirus cases in Maharashtra has reached 101 on Tuesday. Four other patients tested positive for Pune and one tested positive for Satara.

So far, nearly 500 coronavirus cases have been reported in India, according to data from the Ministry of Health on Tuesday. According to data updated on Tuesday morning, the total number of COVID-19 cases was 492. Benchmarks have wiped out most of its initial earnings, but have been trading higher with Nifty above 7700. Sensex increased by 369.34 points or 1.42% to 26350.58, and the Nifty with 108.40 points or 1.42% at 7718.65.

The benchmark indices were opened in positive territory on March 24 with Sensex added over 1000 points. At 09:17 IST, Sensex rose by 1,212.60 points or 4.77 percent to 27,193.84 and Nifty by 353.85 points or 4.65 percent at 7964.10. Manipur reported the first case of COVID-19 in northeastern India, reports say. Northeast now reports that a 23-year-old from Imphal (west) was identified as the first confirmed case in the state.

Tihar Prison authorities said they are planning to release around 3,000 prisoners to alleviate congestion in prisons because of the coronavirus threat. However, it will not include hardened or dangerous criminals. While in the United Kingdom, British Prime Minister Boris Johnson has imposed the most severe obstacles to the movement of people for at least three weeks to try to control the spread of COVID-19 in the country, where the death toll has reached 335.

Security was reinforced at the Shaheen Bagh protest site on Tuesday after a prohibitive order under Section 144 CrPC was promulgated in Delhi, with police clearing the protest site. Meanwhile, the World Health Organization (WHO) has said that the coronavirus disease pandemic is accelerating, with over 300,000 cases now registered and infections reported by almost every country in the world.

The death toll in India from the coronavirus novel rose to nine on Monday with 468 positive results as the Center announced a blockade in 22 states and Union territories across the country and the Indian Medical Research Council recommended l use of an antimalarial drug in case of high risk.

The ministry of health, in its daily press conference on Monday, said Chandigarh, Delhi, Goa, Jammu and Kashmir, Nagaland, Rajasthan, Uttarakhand, West Bengal, Ladakh, Jharkhand, Arunachal Pradesh, Bihar, Tripura, Telangana, Chhattisgarh, Punjab , Himachal Pradesh, Maharashtra and Andhra Pradesh are completely blocked.

Prime Minister Narendra Modi has asked the captains of the industry to ensure that the production of essential items does not suffer as a consequence of the coronavirus epidemic and that there are no accumulations and marketing activities. “The impact on the economy will be felt for some time to come,” Modi said while urging India Inc to take a humanitarian approach and not to reduce the workforce despite the negative impact of COVID-19 on their businesses .

Finance Minister Nirmala Sitharaman said that companies’ spending on combating the coronavirus pandemic will be considered valid as part of corporate social responsibility (CSR) activities. The coronavirus epidemic will be treated like a disaster, the finance minister said on Twitter.

Delhi police moved on Monday to seal all border pegs in the national capital and said curfew passes will be issued to people associated with essential services as they “execute” prohibitive orders in the city ” was not up to today. “

The media, however, will not need passes and their identity cards will be sufficient, they said.

Details such as the format of the application for the passes and when they will be requested, etc. They will likely be shared on Tuesday, police said.

Last Sunday, police imposed prohibitive orders under Section 144 of the Criminal Procedure Code (CrPC) in Delhi until March 31 in view of the coronavirus epidemic, the ban on protests and other meetings.

Section 144 of the CrPC prohibits the assembly of four or more people in one place.

The Nagaland government will enact prohibitive orders under Section 144 CrPC in Dimapur district on Tuesday to keep people indoors during the ongoing blockade declared in the state to contain the coronavirus epidemic, an official said.

The order, issued by police commissioner Dimapur Rothihu Tetseo on Monday, will take effect from 6 am on March 24, the official said.

Dimapur, a state-owned shopping mall, witnessed an “unprecedented” movement of vehicles during the blockade that started from Sunday to midnight, he said.

Police seized a number of road taxis, the official said.

British Prime Minister Boris Johnson has imposed the most severe obstacles to the movement of people for at least three weeks to try to control the spread of COVID-19 in the country, where the death toll has reached 335.

On Monday evening, in a televised speech to the nation, he said that while no prime minister wants to make such demands to the population, the situation was such that he was forced to crack down on the movement of people and the crackdown on any meeting of more than two people. .

With his central message urging people to restrict their movement outside their homes just for the basic essentials, Johnson said, “From tonight I have to give the British a very simple education that you have to stay at home.” .

In the United States, President Donald Trump has signed an executive order to prevent the accumulation of essential medical supplies and personal protective equipment since the country registered more than 130 deaths in a day from coronavirus for the first time.

As of Monday, over 43,700 confirmed cases of coronavirus have been reported in the United States. Of these, over 10,000 were added in one day, according to Worldometer, a website that compiles COVID-19 cases. With 139 deaths, the death toll crossed 550 by Monday evening.

By signing the executive order, Trump said his government will take action against hoarding and overpricing the basic medical and personal protection devices, as well as supplies such as hand sanitizers and face masks.

Updated Date: Mar 24, 2020 2:07:51 PM IST

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Dow futures down 400, pending Congress, “limit” again

A trader works on the floor of the New York Stock Exchange in New York, the United States, on March 18, 2020.

Michael Nagle | Xinhua News Agency | Getty Images

8:10: Fed announces unlimited purchases of assets

The Federal Reserve said Monday that it will launch a barrage of programs aimed at helping markets function more efficiently in the wake of the coronavirus crisis. Initiatives include a commitment to continue its asset purchase program “in the amounts necessary to support the smooth functioning of the market and the effective transmission of monetary policy under broader financial conditions and to the economy”. Others include a $ 300 billion loan program for Main Street operations and the term loan guarantee instrument implemented during the financial crisis. The Fed also said it will purchase commercial mortgage-backed securities as part of an expansion of its asset purchases, known on the market as quantitative easing. Stock futures reduced losses after Fed announcement. – helmsman

8:00 am: Coronavirus stimulus bill fails in Senate key procedural vote

A funding package to combat the economic impact of coronavirus did not get enough votes in a key Senate procedural vote on Sunday evening after Democratic leaders warned that the bill did too much to save the companies and not enough to save the companies. help workers. The final vote count was 47-47, well below the 60 votes needed to advance the bill. Republicans hold a majority of 53-47 in the chamber, although several GOP senators were not present to vote due to the isolation of the coronavirus.

House president Nancy Pelosi said Democrats will present their bill. President Trump expressed optimism that lawmakers will eventually reach an agreement.

Aperture Investors founder and CEO Peter Kraus said on CNBC’s “Squawk Box” Monday that he recalled that the Senate had not approved the first TARP bill during the financial crisis and that the market collapsed. “There will be 2 to 3 million jobless Americans. I think there are both Republicans and Democrats in that crowd. We have to approve an account,” said Kraus. – Fitzgerald

7:59: the volatility index increases with the start of the week

Cboe’s volatility index rose approximately 6 points on Monday morning to exceed 70. The index, which measures the implied volatility in trading S&P 500 options, hit record highs last week but closed at 66 on Friday, 04. – Pound

7:57: 3M shares rise after the company said that mask production has doubled

Shares in the 3M industrial conglomerate rose in primary market negotiations after its CEO said the company doubled global N95 respirator production to around 100 million a month. CEO Mike Roman said on Sunday that the company expects 3M to almost double its capacity again within the next 12 months and is coordinating with the United States government to explore other manufacturing activities, including hand sanitizers and disinfectants. “As a global company, we also manufacture respirators in Europe, Asia and Latin America, and our products are distributed similarly to support the COVID-19 response in their respective regions,” said Roman. – Franck

7:54: Boeing arises after Goldman’s brave update

Boeing’s shares rose 2.5% in premier market negotiations on Monday after Goldman Sachs updated the US aircraft manufacturer to buy from neutrals, claiming that the airline has enough money to recover and that travel demand aircraft will return to normal once the coronavirus crisis ends.

“We think Boeing will remain an ongoing concern,” Goldman analyst Noah Poponak said in a statement on Sunday. “We think that air travel will be more popular than ever once COVID-19 is resolved. Therefore we think that BA’s shares should be purchased at the current price … Substantial price prevalence, while long-term secular growth is intact.”

So far, Boeing has plunged 70% in 2020, making it the worst S&P 500 with a market capitalization of $ 50 billion, Goldman noted. On Friday, Boeing said it would cancel the CEO’s salary, suspend its dividend and extend a pause on stock repurchases amid the pandemic. It is pursuing $ 60 billion in U.S. government aid to the aerospace industry, including loan guarantees. – There

7:45 am: Oil prolongs drops after the worst week since 1991

Oil prices fell on Monday, extending the recent losses that saw US West Texas intermediate crude post its worst week since 1991. On Monday, the WTI lost 1.86% to $ 22.21 a barrel, while the international Brent benchmark fell 6% to $ 25.36 a barrel. On a volatile trading day, the WTI initially dropped by 6%, then recovered those losses to turn positive before falling again.

Prices have gone down as the coronavirus epidemic has slowed down travel and business around the world, just as power plant manufacturers Saudi Arabia and Russia are preparing to increase production. WTI crude futures were cut in half this month. The rapid drop in crude oil prices is wreaking havoc on the financial markets, forcing investors to sell other assets such as treasury bonds or stocks indiscriminately to cover losses in their energy positions. – Stevens

7:10: stocks are about to fall, Dow futures are down 500

Markets were expected to decline openly on Monday as investors waited for an economic stimulus and a bailout from the United States government to combat coronavirus damage. A fiscal stimulus bill failed a Senate key procedural vote on Sunday, sending shares lower. Dow Jones Industrial Average futures lost over 500 points. S&P 500 futures have fallen by almost 3%. Nasdaq 100 futures declined 2.6%. Futures were well below the worst levels of the night session, where they reached “limited” levels, falling by 5%.

Last week, stocks underwent the biggest decline in a week since the 2008 financial crisis, with the S&P 500 falling by more than 13%. These losses placed the broad market average of more than 32% below the record set on February 19. –Fitzgerald

– with the report of Thomas Franck of CNBC, Jesse Pound and Jeff Cox.

Sign up for CNBC PRO for in-depth analysis and exclusive analysis and programming of working days live from all over the world.

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The rupee falls below 76 below the US dollar due to the virus; Uber stops pooling services nationwide

Latest updates of Coronavirus Outbreak: In accordance with the directives of the central government and Delhi, Uber will likely suspend its services in the National Capital until March 31 to contain the spread of the new coronavirus.

Speaking of his pooling services, an Uber spokesman said: “We are determined to help reduce the spread of coronavirus in the cities where we operate. With this in mind, we are discontinuing Uber’s pooling service across India. In line with government advice, we urge people to stay safe and discourage non-essential travel. “

However, Uber has not made official statements about the closure of services in Delhi. but for the record, it was said, “services suspended in Delhi at the moment”.

Another 15 coronavirus cases have been reported in Maharashtra since Sunday evening, bringing the state count to 89, according to the new agency ANI.

While Maharashtra has continued to lead the number of active cases, health minister Rajesh Tope has again called on people to refrain from leaving their homes as “isolation” is the key to fighting the COVID-19 virus.

The curfew will remain imposed in Pune, Maharashtra, until March 31st. All establishments, excluding emergency services and essential items, will remain closed during this period. Any offender will be punished under section 188 of the Indian Criminal Code, Pune police told ANI.

India reported three new deaths from Sunday’s coronavirus, including the first casualties arriving from Bihar and Gujarat, bringing the toll to seven. While the number of COVID-19 cases has risen to 341 in the country, citizens, as requested by Prime Minister Narendra Modi, have observed a “Janata curfew” from 7:00 to 21:00, with most people they stayed at home as a precaution against viruses.

The Center also decided to close 75 districts in 22 states and territories of the Union, which reported COVID-19 cases and asked their respective governments to implement a strict blockade, allowing only essential services. Lav Agarwal, joint secretary of the Union’s ministry of health, clarified that essential services include “ration, food, milk, medical services, transportation of essential needs, among others”.

During a joint press conference with the Ministry of Health of the Union, the Director General of the Indian Council for Medical Research Balram Bhargava stressed that “isolation, isolation, isolation” is the only way to stop the march of infection. He said the country has the ability to perform 50,000 to 70,000 tests for coronavirus per week and that 16 to 17,000 tests have so far been conducted.

Bhargava added that up to 60 private laboratories have been registered to conduct COVID-19 tests.

Speaking to the media, Bhargava said: “Understanding the disorder is essential. Eighty percent of people will suffer from cold fever and recover. Some may have to be hospitalized.”

Concerning the restrictions imposed in an attempt to curb the spread of COVID-19, Agarwal said: “All rail services, including subway and suburban services, interstate passenger transport is suspended until March 31st. These are efforts to break the drive chain. “

The joint secretary also claimed that the Center provided additional N95 masks and personal protective equipment to states according to their requirements. However, he noted that states were asked to procure equipment through a letter dated January 17.

Janata’s curfew has been observed nationwide

Meanwhile, citizens of all cities and states have observed “curfew” in “letter and spirit” as requested by the prime minister, while some have misunderstood the whole point and have taken it one step further. Modi had urged citizens to go out on their balconies and “applaud” to show appreciation for the health workers and doctors who are working to combat the pandemic that has made the whole world go round with dizziness. Italy and France have shown how, earlier this month. Modi’s main message during his speech to the nation earlier this week was “social distance” and “self-isolation”.

Visual elements widely shared on social media and news agencies, however, showed that while some stayed in their homes and applauded and pounded tools, many others considered it a community activity. Several people from across the country ignored the prime minister’s appeal to stay home and participated in large processions in the evening.

A Twitter user has posted several videos of “celebrations” in different cities. In Jaipur is Mysurucrowds of people have been seen on the street clapping tools and clapping. Crowds of people singing slogans and dancing Punjab. To Indore, people have been seen taking part in large processions bearing the national flag.

Some senior journalists he strongly condemned these processions and claimed that meeting in public during such an outbreak amounted to “obscurantism” and charlatan “.

    LIVE updates on the coronavirus epidemic: the rupee falls below the 76 mark against the US dollar due to the virus; Uber stops pooling services nationwide

A deserted railway station in New Delhi on Sunday. Similar scenes were observed nationwide while the “janata curfew” was observed. Image courtesy: Twitter / @ DG_PIB

Just before 17:00, Prime Minister Narendra Modi tweeted:

In the national capital, the streets were deserted with hardly any private vehicles and buses in service. The vendors were out of the way in the morning hours with people confined to their homes.

In Calcutta, the usually explosive areas of Esplanade and Dalhousie, in addition to the airports and railway stations, looked deserted while people stayed indoors to support the prime minister’s call.

The commercial capital Mumbai observed the restrictions on Sunday with the usually busy western and eastern express highways and other arterial roads wearing an empty look and people staying indoors to support the curfew.

However, at 5:00 p.m., people rang the bells and rang the shells, acknowledging the services of thousands of doctors, nurses and other medical personnel who guide India’s response to the deadly virus and ensuring that essential services remain without obstacles.

Prime Minister Modi thanked the people for expressing gratitude and solidarity.

Follow the LIVE updates on the OUTBREAK CORONAVIRUS here

Crossing the party lines, key ministers and other leaders urged people to follow the self-imposed curfew, noting that “social distancing” was the key to breaking the chain of transmission, as the number of coronavirus cases rose to 324 Sunday.

DG ICMR Balram Bhargava addresses the media. ANI

DG ICMR Balram Bhargava addresses the media. ANI

States such as Maharashtra, Odisha, Rajasthan and Bihar have announced a complete or partial blockade until the end of the month.

No passenger train from any railway station in the country was born on Saturday night and the restriction will continue until 22:00 on Sunday, while all suburban train services will be reduced to the bare minimum. Metro services, including in Delhi, Hyderabad and Mumbai, were suspended for the day.

Air carriers such as GoAir, IndiGo and Vistara reduced domestic operations on Sunday.

The Confederation of All India Traders (CAIT) of traders has announced that they will keep their factories closed across the country for the “Janata curfew”.

Italy records the highest daily increase

Italy has announced its largest daily increase in infections, which has increased by 6,600 with nearly 800 new deaths from the virus causing COVID-19. The country’s total death toll of over 4,825 exceeded the death toll in China, where the first cases emerged late last year.

Emirates Airlines, in a Sunday statement, he said: “Today we made the decision to temporarily suspend most passenger flights by March 25, 2020. SkyCargo’s operations will continue. This painful but pragmatic move will help the Emirates Group maintain business viability and secure jobs. work around the world, avoiding cuts. Having received requests from governments and customers to support the repatriation of travelers, Emirates will continue to operate passenger and freight flights in a few countries until further notice, as long as the borders remain open and you are requested “.

In the United States, where several states have ordered residents to stay indoors, New York Governor Andrew Cuomo said the government is literally scouring the world for medical supplies.

Health workers from Oklahoma City to Minneapolis have asked for donations of protective equipment. Detroit hospital staff began making homemade masks for workers. Even rural hospitals were tense as people increasingly felt the pandemic.

Behind China and Italy, Spain now has the third highest number of infections worldwide, followed by the United States.

Spanish health authorities have recognized that some intensive care units in the most affected areas are close to their limit. The army was building a 5,500-bed field hospital in a congress center in Madrid, where hotels were also transformed into wards for patients with viruses without serious respiratory problems.

With input from agencies

Updated Date: Mar 23, 2020 10:39:23 AM TSI

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