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 Asia-Pacific team.
Here are today's key headlines:
President Donald Trump voiced his support for a House coronavirus relief plan Friday after a day of talks between Democrats and his administration on how to blunt the economic damage of the global pandemic.
In a series of tweets, the president said "I fully support" the legislation negotiated by House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin. He urged Republicans and Democrats in the House to support the bill and and he looks forward to signing it "ASAP!" —Jacob Pramuk
Amazon will not hold its Remars conference for discussing emerging technology in Las Vegas on June 16 previously planned, a spokesperson told CNBC in an email on Friday. "We've reached this decision after much consideration, as the health and safety of our employees, customers, partners, and event attendees is our top priority," the spokesperson wrote. The company will give refunds to people who had paid for tickets. Amazon held the inaugural Remars event in Las Vegas last June; the conference was based on invitation-only Mars conferences that the company had put on earlier. Thousands of people attended last year's Remars event, the spokesperson wrote. —Jordan Novet
Efforts to pass a coronavirus relief package hit another roadblock Friday night as negotiators in Washington sent mixed signals about whether they reached agreement on a plan.
Earlier, House Speaker Nancy Pelosi wrote to colleagues that "we are proud to have reached an agreement" on a proposal to blunt the economic damage of the global pandemic after hours of back-and-forth with Treasury Secretary Steven Mnuchin. But after 7:30 p.m. ET, the second-ranking Democrat in the House said his party had not actually reached a deal with the White House.
"She thought there was" a deal, House Majority Leader Steny Hoyer told NBC News when asked why Pelosi announced an agreement. —Jacob Pramuk
Public health officials in King County, Washington — the epicenter of the outbreak in Washington state — confirmed 58 new cases and five new deaths, bringing the county's total cases to 328 and deaths to 32. Three of the new fatalities were residents of the Life Care Center in nearby Kirkland where there was a cluster of cases. That brings the total number of deaths associated with the skilled nursing facility to 25. Health officials cautioned people who aren't seriously sick from going to the emergency room or getting tested, saying there was a shortage of clinical sites where patients can get tested. —Dawn Kopecki
The restrictions that Trump announced earlier this week and that take effect at midnight prohibit the entry of foreigners who have been in 26 European countries for 30 days. They currently exclude Great Britain and Ireland. —Leslie Josephs
Patagonia is closing all of its stores and its online operations because of the coronavirus.
In a memo posted on its website as of Friday afternoon, the privately held sporting goods retailer said, in part, "the scale of impact is still unknown, and we want to do our part to protect our community especially while testing availability is unknown."
All of its stores, offices and other operations will cease at the end of business Friday. It said it will continue to pay workers their regular pay in the interim. —Lauren Thomas
President Donald Trump said Friday that he will "most likely" be tested for coronavirus – minutes after he said that he will not take any precautionary measures following his close contact at Mar-a-Lago with a Brazilian official who was diagnosed with the disease.
Trump, who said earlier this week that he was "not concerned" about his exposure to people who may be at risk of transmitting the disease, made the comments at the White House after declaring a national emergency. —Kevin Breuninger
Pfizer just made it mandatory for all "customer-facing" employees in the United States and Puerto Rico to work remotely, according to an email viewed by CNBC.
The drug maker, in a note to workers from its newly formed COVID-19 "task force," said that employee health and safety is the priority. The policy will be implemented on Monday of next week, and the company said it would hold phone calls to discuss the new guidance with its workers. —Christina Farr
Google is working on a website for coronavirus testing, according the internal materials viewed by CNBC and an announcement by President Donald Trump on Friday.
Trump said during a press conference announcing a state of emergency due to the coronavirus that Google has 1,700 engineers working on the effort now. —Jennifer Elias
Stocks rose sharply in volatile trading Friday as Wall Street rebounded from the sharp losses suffered in the previous session — the worst since the "Black Monday" market crash in 1987.
The Dow Jones Industrial Average closed 1,985 points higher, or 9.4%, at 23,185.62. Friday marked the Dow's biggest-ever point gain. The S&P 500 climbed 9.2% to 2,711.02 while the Nasdaq Composite surged 9.3% to 7,87.23. The averages posted their biggest one-day gain since October 2008. —Fred Imbert, Yun Li
The coronavirus pandemic has stoked concerns of a global economic recession as it spreads across the world, igniting one of the sharpest oil price plummets in the last 30 years and causing the biggest stock plunge on Wall Street since the stock market crash in 1987.
While the crisis has led to a temporary decline in global carbon dioxide emissions, experts are warning it poses a serious threat to long-term climate change action by compromising global investments in clean energy and weakening industry environmental goals to reduce emissions. —Emma Newburger
President Donald Trump on Friday declared a national emergency over the coronavirus pandemic.
The declaration will free up as much as $50 billion in financial resources to assist Americans affected by the outbreak.
Trump said he expected the U.S. to have 1.4 million coronavirus test kits available within a week, and a total of 5 million kits within the next month. He then said he doubted the country will "need anywhere near" 5 million kits. —Dan Mangan, Christina Wilkie
Delta Air Lines will cut passenger-carrying capacity by 40% to deal with a nosedive in travel demand, and it is talking to the White House and Congress about assistance to get through a downturn caused by the new coronavirus. The 40% cut in capacity is the largest in Delta's history, surpassing reductions that were made after the September 2001 terror attacks. "The speed of the demand fall-off is unlike anything we've seen – and we've seen a lot in our business," CEO Ed Bastian said in a memo to Delta's 90,000 employees Friday. —Associated Press
BioReference Laboratories, the company behind the drive-through testing in New Rochelle, NY, will be able conduct up 10,000 coronavirus tests per day across the U.S., executive chairman Dr. Jon Cohen told CNBC. Appearing on "Power Lunch," Cohen said they will be able to provide up to 5,000 tests per day in New York State due to an automated testing system being launched in the coming days. —Kevin Stankiewicz
AT&T is asking all of its employees who have the ability to work remotely to do so until further notice, as the coronavirus spreads across the globe.
The company will be announcing new procedures and safeguards for employees who can't work from home, AT&T CEO Randall Stephenson said in a note sent to employees Friday. AT&T is one of the largest employers in the United States and has 245,000 global employees. —Jessica Bursztynsky
Nike is asking its workers in the U.S. to work from home, if they can, as the COVID-19 pandemic spreads further.
"Based on guidance from government and health authorities, we are encouraging U.S.-based Nike employees to work from home starting Monday, March 16 through March 31, if their job allows," a spokeswoman said in an emailed statement. —Lauren Thomas
Some of the biggest names in retail are at the White House this afternoon to meet with President Donald Trump and his advisers.
Walmart CEO Doug McMillon, Target CEO Brian Cornell, Walgreens President Richard Ashworth and CVS Executive Vice President Thomas Moriarty are among those scheduled to join the group to discuss the national response to COVID-19, according to the White House. Other government officials and health care executives also plan to attend. The meeting was scheduled to begin at 1:30 pm. —Melissa Repko
House Speaker Nancy Pelosi vowed to pass a coronavirus relief bill Friday, but pointedly did not reveal whether she has reached a final deal with the White House on how to combat the global pandemic.
As the number of confirmed cases of coronavirus disease, or COVID-19, rise in the U.S. and the outbreak upends daily life and the U.S. economy, the California Democrat called for a "coordinated, science-based and whole of government response" to the crisis. She urged Congress to pass a "response that puts families first to stimulate the economy." —Jacob Pramuk
Two of Paris' most iconic tourist attractions are closing because of the coronavirus.
The Louvre museum, which houses Leonardo da Vinci's Mona Lisa and the Venus de Milo sculpture, said it is shutting down until further notice. The Eiffel Tower is closing until health conditions reallow it to open, according to the landmark's management.
France has 2,882 confirmed cases and 61 deaths from the virus, according to data compiled by Johns Hopkins University. —Hannah Miller
Disney is halting the production of some of its live-action films as concerns over the growing coronavirus pandemic worsen.
"While there have been no confirmed cases of COVID-19 on our productions, after considering the current environment and the best interests of our cast and crew, we have made the decision to pause production on some of our live-action films for a short time. We will continue to assess the situation and restart as soon as feasible," the company said in a statement.
This move could impact films like "The Little Mermaid," "Shang-Chi and the Legend of the Ten Rings," "Home Alone," "The Last Duel," "Nightmare Alley," as well as "Peter Pan & Wendy" and "Shrunk." —Sarah Whitten
Stocks rose sharply in volatile trading Friday as Wall Street tried to rebound from the sharp losses suffered in the previous session — the worst since the "Black Monday" market crash in 1987.
The Dow Jones Industrial Average traded about 900 points higher, or more than 4%. At one point, the Dow was up more than 1,300 points and on pace for its biggest one-day gain since March 2009.
The S&P 500 was up 4% while the Nasdaq Composite surged 3.6%. Both indexes were up more than 6% at one point. Investors awaited a news conference from President Donald Trump on the coronavirus outbreak. —Fred Imbert, Yun Li, Eustance Huang
New York state now has more cases than any other state in the U.S. as the number of newly confirmed infections surged by 30% overnight to 421, New York Gov. Andrew Cuomo said Friday.
"This is not going to be a quick situation. This is going to be weeks, months," Cuomo said at a press conference in Albany, N.Y. "My guess is there are thousands and thousands of cases walking around the state of New York."
Earlier in the day, Cuomo's office confirmed that New York will begin its first "drive-through" testing center for COVID-19 in New Rochelle, where cases have surged in recent weeks. —Berkeley Lovelace, William Feuer, Noah Higgins-Dunn
Disney's ESPN has long called itself the worldwide leader in sports. Now it will have to figure out what to do when there aren't any.
On what could be called Black Thursday for major sports leagues, Major League Baseball and the National Hockey League suspended play, following the National Basketball Association's lead on Wednesday.
That leaves all-sports networks -- particularly ESPN, which owns more rights to live games than any other media entity -- with several unprecedented problems.
Most urgently, ESPN will need to broadcast replacement programming for the games that won't be happening. In the near term, that includes NCAA conference championship games, NBA games, and first round NCAA women's basketball tournament games. Beyond that, ESPN has additional live college sports on ESPN+, its streaming service, and other linear networks including ESPN2, ESPNU and ESPN3. —Alex Sherman
Billionaire investor Carl Icahn said the coronavirus sell-off has made some stocks so cheap they're being "given away."
"Now it's reached a point that there are some companies that are sort of just given away," Icahn said on CNBC's "Halftime Report." "Some of these companies are awfully cheap, they're very cheap," he added.
But Icahn, who was bearish prior to the recent sell-off, doesn't see the turmoil that has sent the Dow and S&P 500 into bear market territory ending anytime soon.
"I'm not quite as bearish as I was even though it has a longer way to go down," he said. —Pippa Stevens
Michigan Gov. Gretchen Whitmer said that, effective Monday, all of the state's public and private schools will closed for three weeks through April 5 to combat the spread of a rising number of coronavirus cases.
The announcement during a late-night news conference came as officials said 10 more COVID-19 cases had been discovered in Michigan, raising the tally to 12. Already, some K-12 schools had announced weekslong closures and others had begun training staff to potentially move to online learning only. —Associated Press
Sutter Health, a Northern California hospital chain, emailed its patients over the weekend of March 7 to encourage them to use a new online tool if they have symptoms resembling the coronavirus.
The app works by leading patients through a set of questions to find out how they're feeling, how long they've experienced symptoms, their age and medical background, and whether they've traveled recently. Those who are concerned can opt to talk to a doctor via video chat.
Fearing that the virus would spread across the Bay Area in the coming weeks, Sutter Health's chief of digital patient experience Albert Chan pulled together a meeting with infectious disease experts, some clinicians and a small team of web developers. The hospital had an existing capability for video visits, but knew it needed to quickly scale up. "We worked late into the night... over many evenings and the through the weekend," said Chan.
It went live March 7, and the video service immediately started getting booked up quickly, with most slots taken by noon.
The tool is just one example of how hospitals across the United States are scrambling to prepare for a possible flood of COVID-19 coronavirus patients. —Christina Farr
Sports leagues are ceasing competition, including all four major and active U.S. leagues, in response to the coronavirus pandemic.
Marty Conway, an adjunct professor at Georgetown University's McDonough School of Business, called the past two days of reckoning throughout sports "unprecedented."
Conway, who spent time at AOL and served as a special advisor to former MLB Commissioner Peter Ueberroth, said the coronavirus' impact on sports is "like a combination of 9/11 and when Magic Johnson was diagnosed with HIV."
Here's a look at what's been canceled. —William Feuer, Jabari Young
WWDC is Apple's annual developer's conference. It attracts thousands of developers, analysts and journalists each year. The company typically announces new software features and sometimes hardware products as people travel around the world to San Jose, California for workshops about building software for iPhones, iPads, and Macs hosted by Apple employees.
"The current health situation has required that we create a new WWDC 2020 format that delivers a full program with an online keynote and sessions, offering a great learning experience for our entire developer community, all around the world," Apple's Senior VP of Worldwide Marketing Phil Schiller said in a statement. — Kif Leswing
Louisiana has postponed its presidential primaries set for next month, becoming the first state to take the step as fears about the coronavirus outbreak spread.
The state will push back its nominating contests to June 20 and July 25, a spokesman for the Louisiana secretary of state told CNBC.
As the global pandemic upends American life, it has also ground pivotal 2020 presidential campaign operations to a near halt. Former Vice President Joe Biden and Sen. Bernie Sanders, the leading Democratic candidates to take on President Donald Trump in November, have temporarily stopped large, in-person campaign events to curb the coronavirus disease's transmission. —Jacob Pramuk, Steve Kopack
Stocks gave up most of their earlier rally on Friday as Wall Street tried to rebound from the sharp losses suffered in the previous session — the worst since the "Black Monday" market crash in 1987.
The Dow Jones Industrial Average traded more than 350 points higher, or about 1.5%. At one point, the Dow was up more than 1,300 points and on pace for its biggest one-day gain since March 2009.—Fred Imbert, Yun Li, Eustance Huang
Europe has become the new epicenter of the COVID-19 pandemic, World Health Organization officials said Friday.
"More cases are now being reported [in Europe] every day than were reported in China at the height of its epidemic," WHO Director-General Dr. Tedros Adhanom Ghebreyesus said at a press conference at the organization's Geneva headquarters. —William Feuer, Noah Higgins-Dunn, Berkeley Lovelace
The president has scheduled a 3 p.m. ET press conference Friday at the White House.
The conference is set to occur shortly after Trump is scheduled to meet at the White House with major laboratory company executives about the response to the coronavirus, also known as COVID-19.—Dan Mangan
The coronavirus pandemic has shuttered the doors to major sporting events, concerts, and Broadway plays. It could also keep the public from hearing major arguments at the Supreme Court, which announced it would close indefinitely on Thursday.
That includes high-profile cases scheduled for later this month over whether President Donald Trump may keep his tax returns shielded from investigators and an April dispute over a policy that makes it easier for employers to deny insurance coverage for contraception.
Eleven national progressive and civil rights groups representing millions of members urged the top court not to let that happen. The coalition is pressing the justices to broadcast all of its arguments live to the public while the building remains closed to spectators. —Tucker Higgins
The new guidelines do not include factory workers or those who must physically be present to do their duties.
The protocols come days after Michigan, where both automakers have major operations, confirmed its first cases of COVID-19. —Michael Wayland
Spain's leader says he is declaring a state of emergency for two weeks, a measure that will let him "mobilize all resources," including the military, to contain a sharp rise in coronavirus cases.
Prime Minister Pedro Sánchez made the televised announcement Friday as health authorities confirmed Spain has more than 4,200 infections, with nearly half of those in Madrid. That was an increase by a third compared to one day earlier. So far 120 patients have died.
Sánchez says the special measure allows the government to limit free movement, legally confiscate goods and take control of industries and private facilities, including private hospitals. Authorities can also order measures to ensure food supply and the country's industrial output.
He says "it's an emergency that affects the life and health of all. The government is going to protect all citizens," warning that cases could skyrocket to more than 10,000 next week. —Associated Press
Treasury Secretary Steven Mnuchin said the Trump administration would consider suspending people's student loan payments for at least three months during the coronavirus.
Outstanding education debt has outpaced credit card and auto debt, with the average monthly bill clocking in at nearly $400. Consumer advocates say borrowers will need the financial relief amid job losses and income insecurity. —Annie Nova
Such circumstances are not directly addressed in the union's contract and some workers do not qualify for paid leave, according to officials.
UAW Vice President Cindy Estrada said the union would like all employees who are sick or being quarantined to qualify for paid leave. —Michael Wayland
Canada's Parliament agreed to shut down for more than a month while Prime Minister Justin Trudeau governed remotely from his home, in self-imposed quarantine after his wife tested positive for the new coronavirus
Canada's House of Commons voted to shut down for at least five weeks to help ensure lawmakers do not contribute to the spread of the virus.
The moves a day after Trudeau's wife tested positive. The prime minister himself has been in self-imposed quarantine.
All parties in Parliament agreed to the suspension, which means lawmakers will miss two weeks of sessions since they had previously planned to be away next week and two weeks in April. The House is scheduled to next meet Monday, April 20. —Associated Press
A severe coronavirus pandemic in the U.S. could cost the nation's health insurers roughly $90 billion in medical claims, leading to losses that could force some insurers to tap into reserves to pay those costs, according to a new analysis from S&P Global analysts.
The analysts calculate that under a more moderate scenario, COVID-19 medical costs would top $30 billion. The impact of a moderate outbreak would be in line with a very strong flu season, which would pressure profits, but not result in a loss.
"The key difference is saying how many people end up in a hospital … in the hypothetical severe scenario we are looking at about 4 million people in a hospital, whereas in a moderate scenario we're looking at about a million people," explained Deep Banerjee, lead insurance analyst at S&P Global Ratings. —Bertha Coombs
The Boston Marathon has been postponed until September because of the coronavirus, according to an official statement from the Boston Athletic Association (BAA). Originally scheduled for April 20, the marathon will now take place September 14. "On matters of public health and safety we take our guidance from the officials entrusted with protecting the public in this area," said Tom Grilk, CEO of the BAA. "We understand our role, along with our partners, in ensuring a safe environment for all participants, volunteers, spectators, and supporters that meets the standards set by those officials." —Hannah Miller
Grubhub is temporarily suspending commission fees for impacted independent restaurants of up to $100 million. Restaurants can pay commission fees as high as 30% on orders delivered by third-party aggregators like Grubhub. Even before the pandemic, restaurateurs were complaining about the pressure the fees put on their profits, leading the New York City Council to propose capping fees at 10%. Grubhub does not publicly disclose what percent of its revenue comes from the commission fees. —Amelia Lucas
New York will begin its first "drive-through" testing center for COVID-19 in New Rochelle, Gov. Andrew Cuomo's office confirmed to CNBC on Friday.
Cuomo is touring the facility Friday morning, spokesman Will Burns said.
The number of confirmed cases in the state has reached 325 as of Thursday afternoon, according to the state's official website. At least 148 of those cases are in Westchester County, where the city of New Rochelle is located. —Berkeley Lovelace Jr.
Airline stocks jumped in unison on expectations that the government will provide targeted financial relief from the coronavirus impact.
House Speaker Nancy Pelosi said U.S. lawmakers and the White House were close to a stimulus deal.
Treasury Secretary Steven Mnuchin also said the airline industry is among the priorities of the government. —Yun Li
Public health efforts to control the COVID-19 outbreak in Iran are "evolving in the right direction," but "more needs to be done" to stop the spread as cases exceed 10,000, the World Health Organization said Friday.
"We are all still students of this new virus," Dr. Richard Brennan, WHO Regional Emergency Director for the Eastern Mediterranean Region, said in a statement released Friday. "We need to track its spread closely and quickly apply proven public health measures, such as early detection, early isolation and treatment, contact tracing, and risk communications."
Since Iran reported its first two cases of the virus on Feb 19., the number of confirmed cases has ballooned to more than 10,000 with at least 429 deaths, according to WHO data. —Berkeley Lovelace Jr.
As the outbreak situation continued to worsen, JPMorgan slashed its forecast for U.S. and global GDP further, now seeing negative growth in two consecutive quarters.
The bank called for a "novel-global recession," but didn't expect an official downturn to be declared.
In order for the National Bureau of Economic Research to declare a recession, the slowdown needs to last for "more than a few months."
Additionally, there needs to be low readings in different economic indicators, including real GDP, real income, employment, industrial production, and wholesale-retail sales. —Yun Li
Colleges across the U.S. have begun canceling and curtailing graduation amid fears that the coronavirus pandemic will stretch into spring. Some are exploring "virtual"alternatives, while others are considering inviting seniors back for commencement at a later date or just mailing out diplomas.
Schools including Brigham Young University, the Savannah College of Art and Design and Berea College are among those telling students that current commencement ceremonies have been canceled. But dozens of other schools say it's too soon to decide, leaving families uncertain about whether to book flights and hotels and students wondering whether to purchase caps and gowns for the walk across the stage.
The graduation decision is being made as colleges scramble to move instruction online and send students home, a move being made by dozens of schools in an attempt to curb spread of the virus. The list of those moving to the web continued to grow Thursday, with schools from Southern Methodist University to the University of Alaska making the change. —Associated Press
Mexico would consider mechanisms to control the flow of people entering Mexico from the United States in an effort to limit coronavirus, if necessary, deputy health secretary Hugo Lopez-Gatell said on Thursday.
Mexico has so far confirmed 15 cases of coronavirus with no deaths, a fraction of the more than 1,000 cases in the United States, where dozens of people have died. That has led some in Mexico to see contagion from the United States as a threat.
"The possible flow of coronavirus would come from the north to the south. If it were technically necessary, we would consider mechanisms of restriction or stronger surveillance," Lopez-Gatell told a news conference. "Mexico wouldn't bring the virus to the United States, rather the United States would bring it here." —Reuters
President Donald Trump angrily demanded that the Federal Reserve lower a key interest rate in response to the coronavirus crisis, a day after the Fed announced it would make up to a massive $1.5 trillion worth of short-term loans to support credit markets and assure liquidity.
"The Federal Reserve must FINALLY lower the Fed Rate to something comparable to their competitor Central Banks," Trump wrote in a tweet that called out Fed Chair Jerome Powell by name.
"Jay Powell and group are putting us at a decided economic & physiological disadvantage. Should never have been this way. Also, STIMULATE!" —Dan Mangan
Wall Street is increasingly expecting the Fed to use more firepower next week and take interest rates back to near zero.
Bank of America Global Research said it now expects a reduction of 1 percentage point from the fed funds target range, currently at 1% to 1.25% after the March 3 emergency rate cut. The firm based its call on its new view that the economy will see negative growth and be on the brink of recession in the coming months.
Goldman Sachs on Thursday issued its own call for a 1 percentage point cut.
"In light of the continued growth in coronavirus cases in the US and globally, the sharp further tightening in financial conditions, and rising risks to the economic outlook, we now expect the FOMC to cut the funds rate 100bp on March 18, a faster return to the crisis-era 0-0.25% rate than under our previous call for two 50bp steps in March and April," Goldman economists wrote. —Patti Domm
The 2020 Masters golf tournament has been postponed due to the coronavirus outbreak, Augusta National Golf Club chairman Fred Ridley announced on Friday.
"Considering the latest information and expert analysis, we have decided at this time to postpone the Masters Tournament, the Augusta National Women's Amateur and the Drive, Chip and Putt National Finals," Ridley said in a statement.
The announcement of suspending the PGA Tour's first major event is the latest blow to the sports world that suffered massive suspensions and cancellations due to the coronavirus outbreak. —Jabari Young
Investors shifted massive amounts of money over the past week during the Wall Street tumult.
Bonds saw their biggest outflows ever and cash took in its most money in a single week, according to Bank of America. The bank sees more damage coming unless policymakers deliver significant stimulus soon.
The good news is that the moves helped trigger a contrarian "buy" signal on Bank of America's "Bull & Bear Indicator."
The bad news is that the selling could intensify if policymakers don't address concerns shown in the market, which is nearly 30% off its record highs, then things could still get worse. —Jeff Cox
The U.S. should follow Hong Kong's lead and give a cash handout to its citizens amid the coronavirus pandemic, a strategist told CNBC Friday.
"This is not a financial crisis," Andrew Freris, CEO of Ecognosis Advisory, told CNBC's "Capital Connection." "It is a crisis about the real economy."
He noted that in 2008, central banks used the stimulus to respond to the collapse of the U.S. mortgage market — but he said nothing of the kind was happening right now.
"The concern here is what's going to happen with the real economy," he said. "Now I'm afraid pumping in more money to support the financial sector does absolutely nothing where the real problem is." —Chloe Taylor
From quarantining arriving travelers from overseas to nabbing those sneaking in with fevers, China and other parts of Asia are scrambling to prevent the new coronavirus from coming back to where it first broke out. Just as the spread of the disease is stabilizing in much of Asia, following a major outbreak in China, and sizable ones in South Korea and Japan, it is popping up in new hot spots around the world.
Those three countries announced expanded border controls this week that mimic many of the bans and restrictions placed on China in the early days of the outbreak. China, which didn't have enough protective equipment for its medical workers a few weeks ago, is now donating supplies to Italy, Iran, South Korea and, other affected places.
The outbreak is far from over in Asia and could well explode again when restrictions put in place to stymie it are lifted. But the panic that seized the region has shifted to the Mideast, Europe and the Americas as those areas deal with the rapid spread of the virus for the first time. —Associated Press
President Donald Trump's decision to ban travel from many European countries is "politically motivated" and will not prevent further coronavirus cases, analysts told CNBC.
Trump announced Wednesday that people from 26 countries in Europe would be banned from entering the United States for a period of 30 days. These nations form the so-called Schengen Area, where there are no passport checks between internal borders.
However, countries in Europe that are not part of the Schengen area are excluded from the ban. These include the U.K., Ireland, Croatia, Cyprus, Bulgaria, and Romania.
"The U.S. travel ban against the EU Schengen is a politically motivated, and largely ineffective measure," Alberto Alemanno, a professor of EU law at H.E.C. Paris Business School, told CNBC. —Silvia Amaro
European officials clarified some of their new measures to contain the economic implications of the virus. EU member states will be able to provide wage subsidies, suspend payments of corporate and value-added taxes or social contributions, as well as grant financial support directly to consumers. European countries are also allowed to step up their public spending to reduce the economic impact of the coronavirus. "The coronavirus pandemic is testing us all. This is not only an unprecedented challenge for our health-care systems, but also a major shock for our economies," Ursula von der Leyen, head of the European Commission, the executive arm of the EU, said Friday. —Silvia Amaro
There is a small window in the spring - between the bitter cold and the rainy season in June - to climb the world's highest mountain. This year the window will be closed. To protect against the spread of the virus, Nepal has suspended all expeditions from March through May. The country earns about $4.4 million a year in permit fees from climbers. Nepal has only had one confirmed case of COVID-19, a student studying in China on a trip home. —Reuters
As the coronavirus pandemic disrupts routine working around the world, companies across the financial sector are having to find more agile ways of operating.
While many global companies are telling all staff to work from home, for some banking roles, this isn't possible. Traders, for example, often deal with sensitive data, requiring workstations and technology that meet certain compliance standards and cannot be used at home.
Goldman Sachs, Citigroup, Bank of America, and JP Morgan Chase have instituted staggered work arrangements and backup offices for its staffers and are limiting the number of people at gatherings. Buying group lunch deliveries from a single vendor was another method being used by companies, as well as putting up signs asking people to wash their hands when they arrived at work before sitting down at their desks. —Vicky McKeever
Treasury Secretary Steven Mnuchin said the current market sell-off will be short-lived and, as such, looks like a compelling investment opportunity for investors looking to buy equities at a discount.
"This is a short-term issue. It may be a couple of months but we're going to get through this and the economy will be stronger than ever," the secretary said from the White House.
"I look back at people who bought stocks after the crash in 1987, people who bought stocks after the financial crisis. For long-term investors, this will be a great investment opportunity," he said. —Thomas Franck
U.S. stock futures surged in volatile trading as Wall Street tried to recoup some of the sharp losses suffered in the previous session — the worst since the "Black Monday" market crash in 1987.
S&P 500 futures jumped more than 5% to reach their "limit up" level. These limit levels act as a ceiling for buying until regular trading begins and are meant to insure orderly trading. Dow Jones Industrial Average futures were up more than 1,100 points, implying a gain of nearly 1,000 points. Nasdaq 100 futures also surged. —Fred Imbert, Yun Li
Warren Buffett announced Friday that Berkshire Hathaway's annual shareholder's meeting will not be held with shareholders present as the coronavirus continues to spread. The meeting will be streamed online by Yahoo Finance.
"I very much regret this action; for many decades the annual meeting has been a high point of the year for me and my partner, Charlie Munger," Buffett said in a letter to shareholders. "It is now clear, however, that large gatherings can pose a health threat to the participants and the greater community."
Berkshire's annual meeting — which is slated for May 2 — has become a staple in the global business community. In 2018, more than 40,000 people from around the world attended the event known by some as "Woodstock for Capitalists." —Fred Imbert
The government of Hubei, the epicenter of a coronavirus outbreak, has lowered the epidemic risk ratings of several cities and regions, leaving only the capital of Wuhan as "high risk" as of the end of March 12, according to the Hubei Daily, a state-owned local paper.
Compared to March 10, 18 more cities and counties in the province were lowered to low risk, while five fell to medium risk from high risk, it said. —Reuters
Small business owners are beginning to feel early impacts, such as supply-chain problems and lost sales. New data from the National Federation of Independent Business show that the current effects may be limited, but worries are big.
The group found that 74% of small businesses say they are not yet impacted by the pandemic, while 23% say they are being negatively affected. Just 3% report positive impacts. The group polled a random sample of 300 of its 300,000 members on Tuesday and Wednesday from employers with up to 120 workers. —Kate Rogers
For decades, the NYSE has had contingency plans to continue to operate in the event the floor might have to close. At one point, there was even a "mirror" floor in Brooklyn. Today, the NYSE has plans to continue to operate electronically should the floor need to close. Last weekend, the NYSE conducted a test of their trading systems to ensure they could open electronically without the floor. —Bob Pisani
The Food and Drug Administration issued emergency authorization for a coronavirus test made by Swiss diagnostics maker Roche, a move aimed at boosting screening capacity to help contain the pandemic. The tests provide results in 3.5 hours and can produce up to 4,128 results in 24 hours, Roche said Friday. The FDA's Emergency Use Authorization allows the tests to be deployed in markets including the United States as well as others accepting the CE mark signifying they conform to European directives. —Reuters
The governing bodies of English soccer have announced in a joint statement that elite-level matches, including the Premier League, will be suspended until early April.
It becomes the latest sports league to have been temporarily halted as a result of the fast-spreading coronavirus, which has infected more than 135,000 people worldwide.
In the U.S., all four major and active leagues have ceased competition in an effort to contain the spread of COVID-19. — Sam Meredith
Croatia and Estonia have moved to shut down schools for an extended period in an effort to contain the spread of the coronavirus.
Croatian Prime Minister Andrej Plenkovic announced Friday that schools and universities in the country would close for two weeks starting Monday. Estonia's government decided to close schools and ban public gatherings nationwide until May 1.
Croatia has reported 19 cases of the coronavirus, while Estonia has confirmed 16 infections. Neither country has recorded any deaths as a result of COVID-19. — Sam Meredith
Indonesia's health ministry told reporters Friday that COVID-19 infections jumped to 69, up from 34 cases Thursday. An official for the country's health ministry said the cases ranged from ages 2 to 80, Reuters reported, and three people with the coronavirus had died. —Sam Meredith
President Donald Trump said coronavirus testing in the U.S. would soon take place on a "very large scale basis," without providing any details on how this might be carried out. "All Red Tape has been cut, ready to go!" Trump said via Twitter. The U.S. has reported 1,701 cases of COVID-19, with 40 deaths nationwide. —Sam Meredith
Read CNBC's coverage from CNBC's Asia-Pacific and Europe teams overnight here: Trump claims 'very large scale' testing; Indonesia cases double