Coronavirus live updates: Congress passes emergency funding as San Francisco confirms new cases

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. 

  • Global cases: More than 97,800, according to data compiled by Johns Hopkins University.
  • Global deaths: At least 3,347, according to data compiled by Johns Hopkins University.
  • US cases: At least 177, according to data compiled by Johns Hopkins University.
  • US deaths: At least 11, according to the CDC and state health officials.

San Francisco Mayor London Breed announced the city’s first two cases.  “These individuals are contained,” Breed said.

The first patient is a man in his 90’s who is in “serious condition” with underlying health conditions, San Francisco Public Health Director Dr. Grant Colfax said. The second person is a woman in her 40’s who is in “fair” condition. Neither patient has a known connection to an infected individual or travel history to an outbreak area. “They are indicative of community transmission of COVID-19,” he said. — Feuer

The Senate gathered enough votes to pass a multibillion-dollar spending package to combat the spread of the deadly coronavirus. The bill will now head to the White House, where President Donald Trump is expected to sign it. 

The $8.3 billion emergency funding plan sailed through the House a day earlier in a 415-2 vote, just hours after it was unveiled by Senate and House appropriations leaders. 

The bill, which includes more than $3 billion in vaccine research and $2.2 billion in prevention and preparedness efforts, far exceeds the $2.5 billion proposal that the White House put forward last week. — Breuninger 

Investors are looking for the calm in the coronavirus storm, and U.S. residential real estate appears to be it, specifically single-family rental homes.

These investors are not, however, coming to the U.S. to tour the homes themselves. They’re buying them online. 

Roofstock, a 5-year-old California-based fintech company, lists single-family rental homes for sale on its website, most with tenants already in place. It also offers management services, so the investor never has to visit the property. In the last few weeks it has seen traffic from investors in Asia on its site jump 500%. CEO Gary Beasley said it is a direct result of the coronavirus. — Olick 

Stocks plunged following a massive relief rally in the previous session, as markets remained choppy in the face of the fast-spreading coronavirus.

The Dow Jones Industrial Average dropped about 962 points, or 3.5%. The S&P 500 dropped a similar 3.4% and the Nasdaq Composite fell 3%. Stocks hit their session lows as the rate on the 10-year Treasury note fell to an all-time low below 0.9%. — Li, Franck

Source: https://www.cnbc.com/2020/03/05/coronavirus-latest-updates-outbreak.html

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