Coronavirus live updates: Dow caps worst week since financial crisis, California health officials say new case is evidence of community transmission
The coverage on this live blog has ended — but for up-to-the-minute coverage on the coronavirus, visit the live blog from CNBC’s US team.
All times below are in Beijing time.
- Total confirmed cases: More than 85,000
- Total deaths: At least 2,924
9: 52 pm: France bans gatherings of more than 5,000 people
France’s health minister has said that gatherings of more than 5,000 people, in a confined space, will be banned. This comes as the country’s number of confirmed cases rose to 73 on Saturday.
7: 31 pm: Italy postpones more soccer games
Italy’s top-flight Serie A soccer league will see more matches postponed this weekend due to the outbreak of the new coronavirus. Juventus vs. Inter will not take place, along with four other matches, according to the country’s footballing authorities. Italy has over 800 confirmed cases of the virus, one of the largest outside of China. —Clinch
6: 24 pm: Iran says its death toll has risen to 43
The new coronavirus has killed 43 people in the Islamic Republic, according to an Iranian Health Ministry spokesman on Saturday. The country now has 593 confirmed cases with a total of over 720 across the whole of the Middle East, according to AP. —Clinch
5: 59 pm: HNA Group asks for government help
The financial services company HNA Group has asked the government of China’s province of Hainan to help with its increasing liquidity risks. The group has seen a slowdown due to the coronavirus outbreak and it’s now asked officials to lead a work group dedicated to resolving the issues. —Clinch
5: 27 pm: South Korea records its biggest daily jump in infections
South Korea has 219 new coronavirus cases, according to Korea Centers for Disease Control and Prevention (KCDC).
It said Saturday that the 219 added to the 594 cases confirmed earlier in the day, and brought the country’s total infections to 3,150. According to Reuters, the country has therefore logged a record daily increase since South Korea confirmed its first patient on Jan. 20. —Clinch
3: 45 pm: Kuwait health ministry urges citizens not to travel
A health ministry official has called on citizens in Kuwait to avoid travel due the coronavirus outbreak, according to Reuters. The country has not had any new cases over the last 24 hours, the official said at a media conference. —Clinch
2: 55 pm: Australia to bar foreign nationals traveling from Iran
Australia is to stop the entry of foreign nationals who have traveled from Iran. The country’s health department issued new guidance on Saturday saying that, from March 1, if you’re an Australian citizen or permanent resident, or immediate family, that is returning from Iran you’ll need to self-isolate for 14 days from the time you left the country. “The Chief Medical Officer has advised that there is a high level of concern about widespread community transmission of the coronavirus (COVID-19) in Iran,” a statement said. —Clinch
12: 31 pm: Washington State reports two ‘presumptive positive’ cases
The U.S. state of Washington has classified two COVID-19 cases in the state as “presumptive positives,” including one case that appears travel-related and one whose origin is unknown. A woman in her 50s who lives in King County recently returned from South Korea. The second case, of a high school student from Snohomish County, is still being investigated. Both individuals are in home isolation, officials said. —Kemp
12: 23 pm: South Korea reports almost 600 new cases
South Korea reported 594 new cases as of Saturday morning, bringing its total to 2,931, according to the Korea Centers for Disease Control and Prevention. It also said there were three additional deaths, bringing that total to 16. Of the new cases, 476 are from Daegu, South Korea’s fourth-largest city, where a large number of infections have been reported. —Tan
11: 21 am: Oregon’s first reported case appears to be ‘community-transmitted’
The U.S. state of Oregon reported its first case of novel coronavirus, public health officials announced. The individual, an adult who lives in Washington County, has no history of travel to a country where the virus is known to be circulating and is not believed to have had close contact with other confirmed cases. Officials “are considering it a likely community-transmitted case,” they said. Washington County lies just to the west of Portland, the state’s largest city. —Kemp
11: 05 am: United Airlines offers pilots a month off as demand for China flights collapses
United Airlines is offering pilots to take a month off at reduced pay, according to a union memo sent on Friday, a measure that follows flight cuts due to the spread of coronavirus. United on Friday announced because of the illness. The Chicago-based carrier has more service to Asia than any other U.S. airline. —Josephs
10: 15 am: China factory activity is slammed by coronavirus, showing record contraction
Manufacturing in China shrank at the fastest pace ever recorded in February, as the world’s second-biggest economy was stung by the coronavirus outbreak that began in Wuhan province and has spread throughout the country. China’s Purchasing Manager’s Index (PMI) came in at a reading of 35.7, the National Bureau of Statistics said on Saturday. A reading below 50 indicates a contraction. Though analysts polled by Reuters expected to see factory activity decline, their forecast had been for a reading of 46. The PMI number shows a hard hit to an economy that was already being damaged by the trade war between China and the United States. —Kemp
9: 37 am: North Korean leader calls for stronger anti-virus efforts
North Korean leader Kim Jong Un has called for stronger anti-virus efforts to guard against COVID-19, saying there will be “serious consequences” if the illness spreads to the country. During a ruling party meeting, Kim called for the country’s anti-epidemic headquarters to strengthen screening and tests to seal off all “channels and space through which the infectious disease may find its way,” Pyongyang’s official Korean Central News Agency said Saturday. Kim emphasized that all fields and units of the country should “unconditionally” obey quarantine instructions laid-out by the anti-epidemic headquarters. He called for the strict enforcement of preventive measures against what he described as a tricky virus that spreads rapidly. “In case the infectious disease spreading beyond control finds its way into our country, it will entail serious consequences,” the agency quoted Kim as saying during the politburo meeting of the Workers’ Party. —Associated Press
9: 11 am: 3M ramps up N95 respirator production
3M is ramping up production of its N95 respirator mask, hosting job fairs, making offers on the spot and expanding its assembly line with robots. In Aberdeen, South Dakota, more than 650 employees at one of 3M’s largest manufacturing facilities are working overtime to increase face mask production. “We immediately ramped up production in this facility,” Andy Rehder, plant manager at 3M, said. “We have capacity to do that and we did that immediately … really from a more standard five-day to a seven-day week.” —Mody
A worker restock popular 3M N95 particulate filtering face mask at a store in East Palo Alto, California, United States on January 26, 2020.
Yichuan Cao | NurPhoto | Getty Images
9: 05 am: China confirms 427 new cases
China’s National Health Commission reported 427 new confirmed cases and 47 deaths over the last 24 hours, bringing the total number of cases in the country to 79,251 as of 4 a.m. Beijing time. Across the world, the number of new cases tops 84,124 as new infections outside of China spread faster than within the country, according to data compiled by Johns Hopkins University. At least 2,867 people have died since the virus first emerged from Wuhan, China about two months ago. —Kopecki
8: 43 am: Trump says the coronavirus is the Democrats’ ‘new hoax’
President Donald Trump said Democrats are using the virulent coronavirus as a “hoax” to damage him and his administration. “The Democrats are politicizing the coronavirus,” he said from a campaign rally in North Charleston, South Carolina. “One of my people came up to me and said ‘Mr. President they tried to beat you on Russia, Russia, Russia. That didn’t work out too well.’ They couldn’t do it. They tried the impeachment hoax that was on a perfect conversation,” he continued. “This is their new hoax,” he said, referring to the coronavirus. —Franck
7: 43 am: Dow caps worst week for Wall Street since the financial crisis
Stocks tumbled once again on Friday, capping off their worst week since the financial crisis, as worries over the coronavirus and its impact on the economy continue to rattle investor sentiment. The Dow Jones Industrial Average dropped 357.28 points, or more than 1%, to 25,409.36. The 30-stock Dow briefly fell more than 1,000 points then rallied into the close in a wild trading session characteristic of the week. The S&P 500 slid 0.8% to 2,954.22. The Nasdaq Composite closed flat at 8,567.37 but fell as much as 3.5% on the day. For the week, the Dow fell more than 12% — its biggest weekly percentage loss since 2008. On a points basis, the Dow fell more than 3,500 points, far and away its largest weekly point loss ever. It also ended the week in correction territory, down 14.1% from an intraday record high set Feb. 12. —Imbert, Huang
Traders work on the floor of the New York stock Exchange (NYSE) on on February 24, 2020 in New York City. Stocks fell over 1000 points on Monday as global concerns grow about the economic impact of the Coronavirus.
6: 45 am: United Airlines postpones investor day
United Airlines has decided to postpone its investor day which was scheduled for next week given the uncertainty the coronavirus outbreak has created on booking and revenue projections. Earlier this week United pulled its 2020 guidance to the uncertainty created by Coronavirus. United shares were down Friday as airlines continued their sharp declines of the week as worries of a broader slowdown in travel demand rattles investors. United also cut its Asia service amid a sharp drop in demand to the region. —LeBeau
6: 30 am: US State Department raises Italy travel advisory to Level 3, stating ‘reconsider travel’
The State Department on Friday asked citizens to “reconsider travel to Italy” due to the coronavirus outbreak. “Many cases of COVID-19 have been associated with travel to or from mainland China or close contact with a travel-related case, but sustained community spread has been reported in Italy,’ the State Department advisory said. “Sustained community spread means that people have been infected with the virus, but how or where they became infected is not known, and the spread is ongoing. At this time, CDC recommends avoiding non-essential travel to Italy.” —Bhattacharjee
6: 19 am: Santa Clara County health officials confirm new coronavirus case, 10th in California
The Santa Clara Public Health Department announced a third case of coronavirus in the county, which brings the total number of coronavirus cases in California to 10 and the total number of cases in the U.S. to 63, most of which are passengers of the Diamond Princess cruise ship and evacuees from Wuhan, China. County Officials will hold a press conference at 7 p.m. ET to discuss more details. The county said this case is different from the other two since the patient, an elderly woman, doesn’t have a travel history or any known contact with a traveler or infected person. “This new case indicates that there is evidence of community transmission but the extent is still not clear,” said Dr. Sara Cody, Health Officer for Santa Clara County and Director of the County of Santa Clara Public Health Department. “I understand this may be concerning to hear, but this is what we have been preparing for. Now we need to start taking additional actions to slow down the spread of the disease.” —Bhattacharjee
6: 05 am: Corona beer sales have NOT taken a hit from virus fears
In any virus outbreak, there is sure to be plenty of misinformation that circulates, but it usually isn’t about beer. Constellation Brands, which sells Corona Extra beer, put out a press release Friday that said any worries about its beer sales are “unfounded.” In fact, the brand’s sales are up 5% for the four weeks ended Feb. 16, outpacing its trend over the past year. Earlier, ad agency 5WPR said it polled 737 people over the phone and found 16% were confused about whether Corona beer was some somehow related to the novel coronavirus. “We’ve seen no impact to our people, facilities or operations and our business continues to perform very well,” the company said, adding it doesn’t have much exposure to international markets. —Cheddar-Berk
Read CNBC’s coverage from CNBC’S U.S. team overnight here: Fears fuel sell-off, new California case, United postpones investor day.
— CNBC’s Weizhen Tan, Seema Mody, Thomas Franck, Fred Imbert, Eustance Huang, Phil LeBeau, Riya Bhattacharjee, Christina Cheddar-Berk, Berkeley Lovelace Jr., William Feuer, Noah Higgins-Dunn, Leslie Josephs and Reuters contributed to this report.
Correction: This live-blog has been updated to correct the death toll for Iran.