Coronavirus live updates: Possible hospital bed shortage, NY tri-state area imposes new restrictions

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 169,387, according to Johns Hopkins University.
  • Global deaths: At least 6,513, according to Johns Hopkins University.
  • US cases: At least 3,774, according to Johns Hopkins University.
  • US deaths: At least 69, according to Johns Hopkins University.

The National Football League canceled its 2020 draft event in Las Vegas due to the coronavirus outbreak, NFL commissioner Roger Goodell announced Monday.

In a statement announcing the move, the NFL said clubs will still select players as scheduled on April 23 through April 25, but added the NFL is “exploring innovative options for how the process will be conducted and will provide that information as it becomes available. The selection process will be televised,” the statement said. —Jabari Young

New York Gov. Andrew Cuomo warned that the COVID-19 outbreak will stretch U.S. hospitals to max capacity, saying the nation doesn’t have enough hospital beds to handle a pandemic.

“When we’re going to have a real problem is when cases hit their apex and descend on the health-care system and we will not have enough hospital beds,” he said at a press conference.

Cuomo said he sent a letter to President Donald Trump asking him to deploy the Army Corps of Engineers to the state to “start building temporary health-care capacity.” —Berkeley Lovelace

The world will have to learn to live with COVID-19 as the virus will be “with us permanently,” a former Bank of England official told CNBC on Monday.

Speaking to CNBC’s “Squawk Box Europe,” John Gieve, former deputy governor at the Bank of England, said policymakers had a “huge job” to stop businesses from just closing down.

“The difficulty here is that people are making their own decisions, so the government might be saying: ‘go to your bank, build up your debts’, but some businesses will be thinking: ‘well if I face three months of that I’m never going to be able to pay this back, so I’d better close down now,'” he said. —Chloe Taylor

Stocks fell sharply on Monday even after the Federal Reserve embarked on a massive monetary stimulus campaign to curb slower economic growth amid the coronavirus outbreak.

The S&P 500 dropped 6% while the Dow Jones Industrial Average fell 1,500 points, or 6.6%. The Nasdaq Composite traded 6% lower. The major averages were off their session lows, however. The S&P 500 fell as much as 11.4% while the Dow lost more than 12% earlier. The Nasdaq was briefly down 11.7%. —Fred Imbert

Source: https://www.cnbc.com/2020/03/16/coronavirus-live-updates-us-retail-closures-could-explode-irans-deaths-surge.html

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