Coronavirus live updates: NY state coronavirus cases quadruple over 48 hours to 44, market volatility continues

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. 

All times below are in Eastern time.

  • Global cases: At least 101,587, according to data compiled by Johns Hopkins University.
  • Global deaths: At least 3,460, according to data compiled by Johns Hopkins University.
  • US cases: At least 245, according to data compiled by Johns Hopkins University.
  • US deaths: At least 14, according to the CDC and state health officials.

The number of coronavirus cases in New York state has quadrupled over the last 48 hours to 44, Gov. Andrew Cuomo announced Friday. “The number will continue to go up because it’s mathematics,” Cuomo said at a news briefing. “The more you test, the more you will find.” Cuomo used Twitter to revise the state’s case count from 33 released earlier Friday to 44. 

The state reported 11 cases Wednesday evening, 22 on Thursday, 33 Friday afternoon  and 44 Friday evening — a fourfold increase over the previous 48 hours. There are roughly 2,700 people in New York City under ‘precautionary quarantine’ with more than 1,000 others also in voluntary isolation across the state, Cuomo said. —Feuer

South by Southwest, the annual tech, film and music conference held in Austin, Texas, has been canceled due to concerns surrounding the COVID-19 coronavirus outbreak. 

Local government officials announced the update at a press conference Friday afternoon discussing the status of the outbreak and events in the city. Austin’s Mayor Steve Adler said he had declared a local disaster in the city and issued an order canceling the conference. 

In a statement on its website, SXSW said it would “faithfully follow the City’s directions.” 

“We are devastated to share this news with you,” organizers wrote in a statement on the SXSW website. — Graham

Tesla CEO Elon Musk said Friday that people are overreacting about the deadly COVID-19, while health officials across the world prepare for a possible pandemic. “The coronavirus panic is dumb,” Musk said on Twitter to his more than 31 million followers. Musk does not have a background in medicine or virology. Musk’s comment comes as the novel coronavirus spreads rapidly across northern California, where the electric car maker is headquartered. A Tesla spokesman did not respond to a request for comment on the company’s policies if an outbreak occurs. Meanwhile, west coast tech companies — including Facebook, Amazon, Twitter, Google and Microsoft — are telling employees to work from home to avoid spreading the virus. —Bursztynsky

The Dow Jones Industrial Average fell more than 250 points, or about 1%, Friday. The losses extend a deep rout in Thursday’s session and end a turbulent week on Wall Street. 

Friday’s declines came as the benchmark 10-year Treasury yield tumbled below 0.7% for the first time ever. Investors continued to seek safer assets amid fears that the coronavirus will disrupt global supply chains and tip the economy into a recession. —Li

Source: https://www.cnbc.com/2020/03/06/coronavirus-latest-updates-outbreak.html

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