Coronavirus live updates: US cases rise to 108, Fed cuts rates on outbreak risk

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  • Global cases: At least 91,300, according to data compiled by Johns Hopkins University.
  • Global deaths: At least 3,110, according to data compiled by Johns Hopkins University.
  • US cases: At least 108, according to the CDC. 
  • US deaths: At least 6, according to the CDC and state health officials.

Stocks fell in volatile trading even after the Fed slashed interest rates by half a percentage point in an emergency effort to stem slower economic growth from the coronavirus outbreak. It’s the first such emergency rate cut in between scheduled meetings since the financial crisis. The Dow Jones Industrial Average traded 500 points lower, or 1.9%, after rising more than 300 points earlier in the day. The 30-stock average gyrated between sharp gains and solid losses after the decision was announced. The S&P 500 and Nasdaq Composite were both down at least 1.5%. —Imbert, Pound, Huang

The CDC said the number of cases in the U.S. rose to at least 108 and that the agency would be scaling back its case counts to just twice a week, on Mondays and Fridays. The CDC also said it’s stopped reporting “persons under investigation” or PUIs. “Now that states are testing and reporting their own results, CDC’s numbers are not representative all of testing being done nationwide,” the CDC said.  —Kopecki

The largest flight attendants union in the U.S. is seeking a series of measures to help combat the spread of the coronavirus and ensure cabin crews have pay and benefits protections if they become sick. “Airlines and the industry, not all consistently, have implemented some of these recommendations,” said the Association of Flight Attendants, which represents some 50,000 flight attendants including those at United Airlines, Alaska Airlines and Spirit Airlines. “In general, the industry has far exceeded government instruction, but a coordinated, thorough response from our government is what is needed.”

Comcast CEO Brian Roberts said he’s optimistic that the Tokyo Olympics are going to happen and he’s looking forward to being there. “The Olympics are obviously on everybody’s mind,” Roberts said at Morgan Stanley’s 2020 Technology, Media & Telecom Conference. “What I know is that it’s full steam ahead. We’re getting ready. We’re excited.” He said the company has insurance, so there would be no losses should there not be an Olympics. —Miller

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

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