Coronavirus live updates: Princess suspends cruises, Congress shuts down Capitol to public

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 127,749, according to data compiled by Johns Hopkins University.
  • Global deaths: At least 4,717, according to data compiled by Johns Hopkins University.
  • US cases: At least 1,323, according to data compiled by Johns Hopkins University.
  • US deaths: At least 38, according to data compiled by Johns Hopkins University.

The U.S. House Oversight and Reform Committee is continuing its hearing on the country’s preparedness and response to the coronavirus outbreak that has swept across the nation.

Speakers include NIH’s Dr. Anthony Fauci, Terry Rauch, and CDC Director Robert Redfield.

The hearing first began on Wednesday before it was cut short when President Donald Trump summoned the officials to an emergency meeting at the White House. –Higgins-Dunn

Shares of Uber fell to fresh lows as investors continued to grapple with the rapid spread of COVID-19.

The stock dropped 12.35% to $23, falling below its previous intraday low of $25.58 on Nov. 6. The intraday low came amid a broader market sell-off after a speech from President Donald Trump failed to ease concerns over a possible economic slowdown.

Uber warned last week in an annual financial filing that “a pandemic or an outbreak of disease or similar public health concern, such as the recent coronavirus outbreak, or fear of such an event” could post a material risk to its business. —Bursztynsky

Congress will bar public access to the U.S. Capitol for the rest of the month, and the White House will temporarily cancel tours as officials try to curb the coronavirus pandemic.

Capitol tours will stop, while access to the building along with House and Senate office facilities will be limited to members, staff, press and business visitors starting Thursday at 5 p.m. ET, the House and Senate sergeants-at-arms Paul Irving and Michael Stenger said in a statement.

White House spokesman Judd Deere told NBC News the administration will stop tours of the president’s residence “until further notice.” —Pramuk

The coronavirus outbreak spurring the National Basketball Association to suspend the pro basketball season indefinitely could mean bad news on top of already bad news for sporting goods companies like Nike.

“COVID-19 is impacting Nike’s business inside and outside of China more than we initially anticipated,” Susquhanna analyst Sam Poser said in a note to clients Thursday morning. “On top of which, the cancellation of the NBA season until further notice, announced last night, does little to assuage near term nerves.” Susquehanna lowered its price target on Nike shares to $100 from $115.

The stock was recently falling almost 12%, amid a broader market selloff. Shares were hovering around $73.90. Nike’s stock is down about 1.7% over the past 12 months.

Under Armour, meantime, in February said it anticipated the outbreak in China to lower sales by roughly $50 million to $60 million during its fiscal first quarter. That was, notably, before the virus started to hit Europe and North America much harder.

Under Armour shares were down about 10% Thursday morning, hovering around $10.25. It has a market cap of $4.7 billion, compared with Nike’s $117.7 billion. —Thomas

Source: https://www.cnbc.com/2020/03/12/coronavirus-live-updates.html

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