Coronavirus live updates: NYC weighing shelter in place, Social Security offices close

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.

Stocks surged Tuesday — rebounding from their worst day in more than three decades — as Wall Street cheered White House plans that could inject $1 trillion into the U.S. economy to cushion the blow of the coronavirus.

The Dow Jones Industrial Average traded 900 points higher, or 4.7%. It briefly dipped below 20,000 for the first time since February 2017. The S&P 500 was up 4.6% while the Nasdaq Composite gained 6%. —Fred Imbert

The Social Security Administration is closing all of its local offices to the public starting on Tuesday due to coronavirus.

“This decision protects the population we serve – older Americans and people with underlying medical conditions – and our employees during the coronavirus (COVID-19) pandemic,” the Social Security Administration said in a statement.

Local offices will still be available by phone with a priority on critical services, the agency said. That includes benefit payments for those who did not receive their checks or need them reinstated; cases with severe blindness, disability or terminal illness; and eligibility decisions needed for urgent Medicaid approval. —Lorie Konish

As Sephora, Ulta Beauty and other makeup stores temporarily shutter, they’ll join a growing list of retailers roiled by the coronavirus outbreak, but they face unique challenges.

Closed stores will suspend many of the retailers’ typical sales techniques: Tester stations, one-on-one beauty advice and complimentary makeovers. And the retailers will have to overcome potential changes in customers’ habits, as people cut back on social gatherings and work from home. —Melissa Repko

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 

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

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