Coronavirus live updates: New York City confirms first case, Europe raises risk level

This is a live blog. Please check back for updates.

All times below are in Eastern time.

  • Total confirmed cases: More than 89,100
  • Total deaths: At least 3,040

President Donald Trump will hold a meeting with pharmaceutical companies at the White House today on COVID-19. “They’ll be coming to the White House, and we’re talking about a vaccine and developing, very quickly — and they’ve already started working on it — developing, very rapidly, a vaccine for the virus,” Trump said during a press briefing Sunday. Sanofi, which is working on a potential vaccine, is confirmed to attend. U.S. health officials, in collaboration with drugmakers, are fast-tracking work on a potential vaccine for the virus, hoping to start human trials in five to six weeks. There are currently no proven therapies for the latest outbreak. —Lovelace

A member of a council that advises Iran’s supreme leader died after falling sick from the new coronavirus, state radio reported, becoming the first top official to succumb to the illness striking both citizens and leaders of the Islamic Republic. The death of Expediency Council member Mohammad Mirmohammadi, 71, came as Iran announced the virus had killed 66 people among 1,501 confirmed cases in the country. In two days, the number of confirmed cases has more than doubled, showing the spiraling crisis of the outbreak as Iran says it is preparing to mobilize 300,000 soldiers and volunteers to confront the virus. Iran has the highest death toll in the world after China, the epicenter of the virus that causes the illness called COVID-19. —Associated Press

Summer vacations could be off the table this year as tourists put off traveling to avoid catching the new coronavirus. Demand for international travel has taken a downward turn amid the outbreak, which has seen the virus spread to at least 60 countries. Ian Harnett, co-founder and CIO of investment research firm Absolute Strategy, warned a prolonging of the crisis could seriously impact the global travel sector. “If this gets extended, we’re talking about the impact on Easter holidays, potentially summer holidays, (and) whether the ‘staycation’ becomes the default for all of us here — that’s going to be tremendously damaging to these industries,” he said. —Taylor

Target has canceled its in-person analyst and investor meeting in New York City amid concerns about the coronavirus outbreak. The Minneapolis-based retailer’s meeting was scheduled for Tuesday in midtown Manhattan. Instead of holding the event, Target said executives will present fourth-quarter results and answer questions by webcast. In an email, a company spokeswoman attributed the change to “the rapidly evolving situation regarding the coronavirus.” —Repko

Source: https://www.cnbc.com/2020/03/02/coronavirus-latest-updates-outbreak.html

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