Coronavirus live updates: US markets set to pop as Trump eyes stimulus; deaths climb in Iran

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 114,578, according to data compiled by Johns Hopkins University.
  • Global deaths: At least 4,028, according to data compiled by Johns Hopkins University.
  • US cases: At least 755, according to data compiled by Johns Hopkins University.
  • US deaths: At least 26, according to data compiled by Johns Hopkins University.

American Airlines is slashing international and domestic flights as demand falls amid the coronavirus epidemic, the carrier said Tuesday. The move follows similar measures announced last week by JetBlue and United.

U.S. carriers had previously reduced flying to China, where the virus was first detected, and elsewhere in Asia, but its rapid spread has hurt demand for flying more broadly, prompting deeper and more generalized cuts. American said it will shave 10% off its peak summer international flying, one of the clearest signs yet that airline executives expect the coronavirus’ impact on the business to last longer than expected. —Josephs

Darden Restaurants said it is providing paid sick leave for hourly workers across all of its chains, which include Olive Garden and Longhorn Steakhouse. Employees will accrue one hour of sick leave for every 30 worked, and the pay rate will be based on the worker’s 13-week average.

The company said it has been working on the policy for a while, but sped up the process due to the outbreak. Popular Information, a politics-focused newsletter, recently reported on Darden’s lack of paid sick leave, which is common in the restaurant industry but could deter ill employees from calling out sick. —Lucas

Stock futures rallied back after the S&P 500′s worst day since the 2008 financial crisis as investors cheered potential stimulative measures to stem the economic downturn from the coronavirus. Around 7 a.m. ET Tuesday, futures on the Dow Jones Industrial Average indicated an opening surge of about 1,000 points on Tuesday. S&P 500 futures and Nasdaq 100 futures also pointed to a sharply higher open.

President Donald Trump on Monday floated the idea of “a payroll tax cut or relief” to offset the negative impact from COVID-19. The potential tax incentives come on top of an $8.3 billion spending package Trump signed last month. —Imbert

Iran’s death toll climbed by 54 to 291 total, Health Ministry spokesman Kianoush Jahanpour said. That’s an 18% increase in death from the day before. The virus has infected at least 8,040 people across the country, he said, which is the hardest-hit country in the Middle East by the virus. —Feuer

Source: https://www.cnbc.com/2020/03/10/coronavirus-latest-updates-us-markets-set-to-pop-as-trump-eyes-stimulus.html

You may like

In the news
Load More