Coronavirus live updates: Facebook cancels conference, Iran outbreak could get worse

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All times below are in Eastern time.

  • Total confirmed cases: More than 82,500
  • Total deaths: At least 2,810

Facebook announced its decision to cancel its annual F8 software developer conference due to concerns surrounding the COVID-19 coronavirus outbreak. “This was a tough call to make — F8 is an incredibly important event for Facebook and it’s one of our favorite ways to celebrate all of you from around the world — but we need to prioritize the health and safety of our developer partners, employees and everyone who helps put F8 on,” Facebook Director of Platform Partnerships Konstantinos Papamiltiadis said in a blog post. —Rodriguez

House Speaker Nancy Pelosi called the stock market sell-off “disturbing” Thursday as she criticized the Trump administration’s response to the global coronavirus outbreak and outlined conditions for an emergency funding proposal. The California Democrat also pushed back on President Donald Trump’s suggestion — during a Wednesday evening White House briefing on the health crisis — that the stock plunge was at least in part the fault of Democratic presidential candidates. “Lives are at stake,” she said. “This is not a time for name-calling or playing politics.” —Breuninger

Jitters over the outbreak have wiped $2 trillion from the stock market just this week. Many retail stocks, such as Macy’s, Under Armour and Gap, are taking a beating on fears that consumer spending could slow. Investors may not be wrong. The market slide shows the virus doesn’t need to run rampant in the U.S. to start wearing down consumer sentiment. In China, cities are being described as ghost towns. A widespread outbreak here would could similarly disrupt consumer spending, which accounts for 70% of the economy.

Sen. Elizabeth Warren, D-Mass., unveiled a bill to divert money from President Donald Trump’s border wall to the U.S. coronavirus response. As concerns rise about the outbreak spreading in the U.S., the 2020 Democratic presidential candidate argued the $1.25 billion in emergency funding sought by the president is inadequate. With the proposal, Warren not only aims to confront a budding public health crisis but also looks to knock a Trump policy she has called racist and divisive. —Pramuk

Source: https://www.cnbc.com/2020/02/27/coronavirus-latest-updates-outbreak.html

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