Coronavirus live updates: Congress passes emergency funding as US cases continue to rise

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.

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

The Centers for Disease Control and Prevention confirmed 20 new cases of COVID-19 over 24 hours, bringing the United States total to at least 149.

At least 49 of those cases are people who were evacuated from Wuhan, China, the epicenter of the outbreak, or the Diamond Princess cruise ship, the CDC said, adding that the data was current as of 4 p.m. Wednesday.  At least 30 are travel-related infections, while 17 were caused by person-to-person spread. U.S. health officials are also investigating 53 other cases with no clear source of the infection, the CDC said.

According to Johns Hopkins University, there are at least 162 cases of the coronavirus in the U.S. 

The CDC said it’s tested 1,526 people for the flu-like virus as of Wednesday. That does include testing being done at state and local public health laboratories, which began this week, the agency said. — Lovelace

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

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