This is CNBC’s live blog with the latest news about the coronavirus outbreak. All times below are in Eastern time. This blog will be updated later in the day once the news is released.
Global cases: More than 542,700
Worldwide deaths: At least 24,361
US cases: At least 85,996
US deaths: At least 1,300
The above data has been compiled by Johns Hopkins University.
11:18 a.m .: Digital divide between US households without Internet
Data from the Pew Research Center shows that much of the United States is trying to get by without an internet connection in the home, while much of the country is crouching to work and shop from home.
Before the corona virus reached the United States, according to the Bureau of Labor Statistics, about 7% of private sector workers had access to flexible workplace performance. These jobs tend to pay off well, which, according to the Pew Research Center, explains why access to telework varies widely depending on income.
Due to the lack of internet access, millions of households are cut off from essential services and information during the pandemic. ̵
1; Melody Warner, John Schoen
10:27 am: The deadline for the actual identification is postponed due to the corona virus
Since air traffic almost came to a standstill during the COVID-19 pandemic, the Department of Homeland Security extends the deadline for enforcing Real ID by a full year until October 1, 2021.
“The federal, state and local response to the spread of the coronavirus here in the United States requires that this deadline be delayed,” Acting DHS Secretary Chad Wolf said in a statement.
States across the country have temporarily closed or restricted access to motor vehicle departments, which has prevented millions of people from applying for and receiving their new government-issued Real IDs, the statement said.
Currently, adults boarding a state-regulated aircraft can use their current driver’s license for domestic travel as usual and wait until 2021 to receive a Real ID-compliant driver’s license. – Jessica Dickler
10:21 am: The US consumer mood drops to its lowest level in more than three years
Doug Hassebroek purchases with a protective mask during the Coronavirus Disease (COVID-19) outbreak in Brooklyn, New York, March 25, 2020.
Caitlin Ochs | Reuters
US consumer sentiment fell to a three-year low, according to the University of Michigan, when the outbreak of the coronavirus increased.
The consumer sentiment index fell from 101 in February to 89.1 in March – the lowest since October 2016. Economists surveyed by Dow Jones expected consumer sentiment to drop to 90.
According to Richard Curtin, chief economist for consumer surveys, sentiment decline in March was the fourth largest in almost 50 years. – Fred Imbert
9:35 a.m .: Dow Panzer more than 800 points after a massive 3-day jump
Stocks fell sharply on Friday, returning some of the strong gains of the past three days to end another volatile week on Wall Street.
The Dow Jones Industrial Average fell more than 800 points or over 3% at the open. The S&P 500 fell 3.2%, while the Nasdaq Composite fell 2.9%.
Chevron, Boeing and American Express led the 30-share Dow lower, each falling more than 5%. Energy and industry were the worst performing sectors in the S&P 500 as they fell 5.8% and 4.3%, respectively. – Fred Imbert
9:03 am: Billionaire Leon Cooperman: I am optimistic that the stock market has encountered coronavirus fears
Billionaire investor Leon Cooperman told CNBC on Friday he was optimistic that the stock market had bottomed out due to fears of the corona virus.
“If I’m right about the virus call, if I’m right and that’s the big ‘if’ … I think the market at the recent low … was close enough to the bottom to be called the bottom.” Cooperman said on “Squawk Box”.
The S&P 500 hit its recent low of 2191.86 on Monday, which is about 35% below the all-time high of the past month.
The investor, who made his fortune selecting individual stocks, said he sees an S&P range from 2,200 to 2,800 this year. Kevin Stankiewicz
8:50 a.m .: Bezos healthcare company, CEO behind Buffett, says the US death toll curve is worse than in China
The CEO of the joint health care venture between JPMorgan, Amazon and Berkshire Hathaway is calling for a national “shelter-in-place” regulation as coronavirus deaths continue to increase in the United States.
“Our death toll is now worse than when China was at the same stage,” said Dr. Atul Gawande, CEO of Haven, told CNBC. “We have 12 states with more than 1,500 cases. China had a province,” said Gawande, also a renowned surgeon, author, and spokesman.
Gawande said that health officials are learning from Washington State, where the death toll appears to be falling. “Local protection, which some states do,” he said. “We don’t have the others on board. We really need a national animal shelter.” – Berkeley Lovelace
8:29 am: US infections are increasing
8:13 a.m .: Build-A-Bear Workshop and The Cheesecake Factory announce vacation
The build-a-bear workshop in the mall and the cheesecake factory both announced that they are on vacation. Build-A-Bear plans to take more than 90% of its staff on leave, and The Cheesecake Factory has taken 41,000 hourly restaurant employees on leave.
Employees on leave from both companies are still entitled to employee benefits, including insurance.
Citing the impact of government regulations and landlord decisions to close real estate, Cheesecake Factory does not pay rent for April. – Melia Lucas
8:04 a.m .: Dow futures point to a decline of 800 points
US equity futures fell sharply after a strong rally sparked by rising expectations of Congress’s massive fiscal stimulus as investors shook off the bleak unemployment data.
Dow Jones Industrial Average futures implied an opening decline of around 800 points in volatile trading. S&P 500 and Nasdaq 100 futures also pointed to a decline of more than 2% at the opening. – Fred Imbert
7:20 am: British Prime Minister Boris Johnson tests positive
Prime Minister Boris Johnson’s screen grave speaks to the nation from 10 Downing Street in London when he blocked Britain when the government tried to stop the spread of the Coronavirus (COVID-19).
PA video – PA pictures
Prime Minister Boris Johnson announced that he tested positive for COVID-19. “Over the past 24 hours, I’ve developed mild symptoms and tested positive for coronavirus,” he said on Twitter. “I am now self-isolating, but I will continue to video-conference the government’s response as we fight this virus.”
“The test was conducted at # 10 by NHS staff and the test result was positive,” a spokesman for # 10 Downing Street said in a statement. “In line with the guidelines, the prime minister isolates himself on Downing Street. – Want fire
7:13 am: In New York hospitals, medical care will run out in a week, says the former FDA chief
7:07 a.m .: Great Britain pays pensions and pensions for staff on leave
Britain will announce that it intends to cover employers’ social security costs and pension contributions for companies that employ people, a statement by Prime Minister Boris Johnson said. – Reuters
7:05 a.m .: Norway predicts an economic slowdown of 2% this year
The Norwegian government is now forecasting that its gross domestic product without oil will shrink by 2% this year due to the outbreak of the corona virus, a more significant decline than the 1% decline expected last week. The forecast is based on the assumption that the urgent situation in Norway and other countries will continue for the next two months and that growth will gradually return to normal afterwards, the government said in a white paper. – Reuters
6:59 a.m .: Spain’s death toll increases by 769 overnight to 4,858
Two workers transport a coffin to the La Almudena cemetery on March 26, 2020 in Madrid, Spain. Spain plans to continue its quarantine activities until at least April 11.
Carlos Alvarez | Getty Images
The death toll in Spain rose 769 overnight to 4,858, the Ministry of Health said. This is the highest number of deaths within 24 hours. The total number of infected rose from 56,188 on Thursday to 64,059. – Reuters
6:10 p.m .: Hungary announces two-week closure
Hungary is the youngest country to announce a two-week ban to curb the spread of COVID-19. Prime Minister Viktor Orban said on public radio that while citizens need to maintain social distance, they can go to work, shop and have limited outdoor activity from Saturday. Orban said people can still go outside, but they can’t be in a group. The Hungarian police will enforce compliance and impose fines if necessary. – Silvia Amaro
5:37 p.m .: The death toll in Iran increases to 2,378
The Iranian Ministry of Health reported a total of 2,378 deaths from the virus and 32,332 confirmed cases, according to Reuters. – Silvia Amaro
5:30 a.m .: Italy’s business morale dropped in March
A worker performs sanitary operations for a coronavirus emergency in an abandoned city in Piazza dei Miracoli near the Tower of Pisa in an abandoned city in Pisa, Italy, on March 17, 2020.
Laura Lezza | Getty Images
According to Reuters, morale among Italian companies fell in March when the outbreak dampened economic activity.
Statistics from ISTAT showed that its composite business morale index covering manufacturing, retail, construction and services has dropped from 97.8 last month to 81.7. According to Reuters, the March value was the lowest since June 2013. – Yen Nee Lee