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.Â
- Global cases: More than 135,000, according to data compiled by Johns Hopkins University.
- Global deaths: At least 4,977,Â according toÂ data compiled by Johns Hopkins University.
- US cases: At least 1,701, according to data compiled by Johns Hopkins University.
- US deaths: At least 40, according to data compiled by Johns Hopkins University.
Here are today’s key headlines:
- Trump is set to declare a national emergency
- Louisiana postponesÂ its Democratic primary, the first state to do so
- Europe is now the ‘epicenter’ of the coronavirus pandemic, WHO says
- The Masters and other major golf tournaments are postponed
- Warren Buffett says Berkshire’s annual meeting will be held without shareholders
Stocks rose sharply in volatile trading Friday as Wall Street tried to rebound from the sharp losses suffered in the previous session â the worst since the “Black Monday” market crash in 1987.
The Dow Jones Industrial Average traded about 900 points higher, or more than 4%. At one point, the Dow was up more than 1,300 points and on pace for its biggest one-day gain since March 2009.
The S&P 500 was up 4% while the Nasdaq Composite surged 3.6%. Both indexes were up more than 6% at one point. Investors awaited a news conference from President Donald Trump on the coronavirus outbreak.Â âFred Imbert, Yun Li, Eustance Huang
New York state now has more cases than any other state in the U.S. as the number of newly confirmed infections surged by 30% overnight to 421,Â New York Gov. Andrew Cuomo said Friday.
“This is not going to be a quick situation. This is going to be weeks, months,” Cuomo said at a press conference in Albany, N.Y. “My guess is there are thousands and thousands of cases walking around the state of New York.”
Earlier in the day, Cuomo’s office confirmed thatÂ New York will begin its first “drive-through” testing center for COVID-19 in New Rochelle, where cases have surged in recent weeks. âBerkeley Lovelace, William Feuer, Noah Higgins-Dunn
Disney‘s ESPN has long called itself the worldwide leader in sports. Now it will have to figure out what to do when there aren’t any.
On what could be called Black Thursday for major sports leagues, Major League Baseball and the National Hockey League suspended play, following the National Basketball Association’s lead on Wednesday.Â
That leaves all-sports networks — particularly ESPN, which owns more rights to live games than any other media entity — with several unprecedented problems.
Most urgently, ESPN will need to broadcast replacement programming for the games that won’t be happening. In the near term, that includes NCAA conference championship games, NBA games, and first roundÂ NCAA women’s basketball tournament games. Beyond that, ESPN has additional live college sports on ESPN+, its streaming service, and other linear networks including ESPN2, ESPNU and ESPN3.Â Â âAlex Sherman
Billionaire investor Carl Icahn said the coronavirus sell-off has made some stocks so cheap they’re being “given away.”
“Now it’s reached a point that there are some companies that are sort of just given away,” Icahn said on CNBC’sÂ “Halftime Report.”Â “Some of these companies are awfully cheap, they’re very cheap,” he added.
But Icahn, who was bearish prior to the recent sell-off, doesn’t see the turmoil that has sent the Dow and S&P 500 into bear market territory ending anytime soon.
“I’m not quite as bearish as I was even though it has a longer way to go down,” he said.Â âPippa Stevens