This is CNBC’s 24-hour blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This live blog will be updated throughout the day as the news breaks.
- Global cases: More than 147,000, according to data from Johns Hopkins University
- Global deaths: At least 5,539,Â according to data from Johns Hopkins University
- U.S.cases: At least 2,174,Â according to data from Johns Hopkins University
- U.S. deaths: At least 47,Â according to data from Johns Hopkins University
President Donald Trump praised the Friday rebound in stocks, which came amid an ongoing bear market stemming from the coronavirus crisis and a day after the worst decline since the 1987 Black Monday market crash.
“Biggest stock market rise in history yesterday!” Trump tweeted Saturday morning.
The S&P 500, the U.S. stock market benchmark, , its biggest climb since October 2008 in the wake of the financial crisis. The Dow Jones Industrial Average jumped 9.4%, also for its biggest gain since October 2008. Its 1,985-point rise was its biggest point gain ever.
The bounce in stocks follows a 10% plunge in the Dow ofÂ 2,352.60 points. Thursday’s drop was its worst percentage decline since the 1987 crash and its biggest point decline ever.Â On Thursday, the S&P 500 plunged 9.5% and entered an official bear market, down more than 20% from its high.Â âJohn Melloy
Servino Ristorante, an upscale Italian restaurant in Tiburon, California, is a short drive or ferry ride from San Francisco, where scores of software and internet companies have emerged over the past decade.Â
Normally the 42-year-old restaurant, with picturesque views of the Bay, benefits from the thriving local tech economy. But with companies including , and instructing their employees to amid concerns about the spreading coronavirus, Servino has to figure out how to survive a looming crisis.
Corporate events in the banquet hall have all been canceled, said Natale Servino, general manager of the family-owned business. And there’s been a big dip in diners coming in from San Francisco.
For people with full-time salaried jobs that come with health coverage and paid leave, the current state of affairs is very inconvenient, and many retirement accounts are looking scary. But for those working at businesses like Servino, who are facing either dramatically reduced income or the prospect of having to find childcare should their kids’ school close, the potential impact of the coronavirus is dire. It may be hard to pay rent or put food on the table.Â âAri Levy
Tufts Medical Center in Massachusetts started calling patients earlier this week to reschedule elective procedures, such as knee and hip replacements and even annual physical exams, so it could prepare for an influx of patients with coronavirus.Â
“As we began to see that we were going to face a significant issue with the pandemic, we started to look at what we could do to slow down the cases with social distancing,” explained the health system’s CEO Michael Apkon by phone.Â
“We also saw a reality of limited stock, including personal protective equipment, across the industry,” he continued.
Hospitals in the U.S. are facing mounting pressure to stop performing elective and non-urgent procedures,Â whichÂ represent aÂ major chunk of their annual revenues. Public health officials fear that if these surgeries continue, they’ll sap important supplies and resources that might be needed for the most serious coronavirus cases.Â â Christina FarrÂ
Florida said there were 25 new people who tested positive for the coronavirus, and one additional death.
“One Orange County, FL resident tested positive for COVID-19 while traveling and has died in California,” the health department tweeted.
According to the latest data from the health department, at least 3 Florida residents have died from the flu-like disease that has spread rapidly across the world. âJoanna Tan