Coronavirus live updates: NYC weighing shelter-in-place, IRS delays tax deadline

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 190,000, according to Johns Hopkins University.
  • Global deaths: At least 7,519, according to Johns Hopkins University.
  • U.S. cases: At least 5,702, according to Johns Hopkins University.
  • U.S. deaths: At least 94, according to Johns Hopkins University.

The White House is seeking a stimulus package worth anywhere from $850 billion to over $1 trillion as the Trump administration looks to battle the economic impact from the coronavirus pandemic, according to a source familiar with the matter.

An administration official said the package could include:

  • $500 billion to $550 in direct payments or tax cuts
  • $200 billion to $300 billion in small business assistance 
  • $50 billion to $100 billion in airline and industry relief

The developments came hours after Treasury Secretary Steven Mnuchin said that the Trump administration wants to get emergency funds in Americans’ pockets “immediately” amid the crisis. —Kevin Breuninger, Lauren Hirsch, Kayla Tausche 

New Yorkers should prepare for a “shelter-in-place” order in the coming days, New York City Mayor Bill de Blasio said, adding that a decision will be made in the next 48 hours.

“We are all deeply concerned … this is quite clear this is a fast growing crisis,” he said at a press conference. “All New Yorkers, even though a decision has not been made by the city or the state, I think that all New Yorkers should be prepared right now for the possibility of a shelter-in-place order.” —Noah Higgins-Dunn

Stocks surged in volatile trading as Wall Street cheered White House plans and new actions by the Federal Reserve to cushion the economic blow of the coronavirus. 

The Dow Jones Industrial Average traded 1,086 points higher, or 5.4%. The 30-stock average traded more than 200 points lower at one point and briefly surged more than 1,000 points. It also dipped below 20,000 for the first time since February 2017. The S&P 500 was up 6.1% after briefly trading lower on the day. The Nasdaq Composite gained 6.1%. It was also down earlier in the session. —Fred Imbert

New York City Mayor Bill de Blasio is again addressing the public, two days after the city announced widespread restrictions on restaurants and bars. Earlier on Tuesday, New York state health officials announced the state’s case count had jumped to about 1,700. You can watch de Blasio’s live press conference here. —Sara Salinas

Source: https://www.cnbc.com/2020/03/17/coronavirus-live-updates.html

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