Coronavirus live updates: Tom Hanks, Rita Wilson released from hospital, oil prices could hit teens

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 183,000, according to Johns Hopkins University.
  • Global deaths: At least 7,167, according to Johns Hopkins University.
  • U.S. cases: At least 4,661, according to Johns Hopkins University.
  • U.S. deaths: At least 85, according to Johns Hopkins University.

Lobbying groups representing the country’s travel and tourism industry are headed to the White House today to meet with Vice President Mike Pence and other officials to discuss the industry’s response to the coronavirus pandemic and the “catastrophic economic impact on the hotel industry, its employees and U.S. economy,” U.S. Travel Association and American Hotel and Lodging Association confirmed. 

The lobbying groups represent Carnival, Walt Disney, Expedia, Hilton, and MGM International, as well as a plethora of small businesses impacted by the pandemic.

Travel Economics is forecasting a 10% drop in international visits to the U.S. a year, about double the decline the U.S. faced during the outbreak of severe acute respiratory syndrome, or SARS, in 2003. This implies 8.2 million lost visitors in one year, even more than the 7.7 million international travelers lost in 2001 and 2002, after the 9/11 terrorist attacks. In all, it anticipates 825,000 jobs could be lost in the industry.

The lobby groups have asked for a number of relief measures, including tax credits for employee retention, the deferment of quarterly tax payments, and the ability to carry back net-operating-losses, CNBC has reported. It is unclear what measures the White House is currently considering. —Lauren Hirsch

Stocks jumped on Tuesday as Wall Street tried to recover from its worst day in more than 30 years amid signs of potential fiscal stimulus and progress on a possible treatment for COVID-19.

Trading overnight was volatile with Dow futures giving back more than 1,000 points as investors try to weigh the uncertain economic impact of the coronavirus outbreak.

Those moves came after Politico and The Washington Post reported that Treasury Secretary Steven Mnuchin will ask congressional lawmakers for a stimulus package of $850 billion or more to help the U.S. economy grapple with the impact of the coronavirus. —Fred Imbert

Democratic Sens. Amy Klobuchar and Ron Wyden are pushing to make vote-by-mail available to every American as the coronavirus pandemic threatens to keep people at home during election season.

“The best way to ensure that this virus doesn’t keep people from the ballot box is to bring the ballot box to them. We must allow every American the ability to vote by mail,” the two lawmakers wrote in an opinion article in The Washington Post published on Monday. “And we must expand early voting so that voters who are not able to vote by mail are not exposed to the elevated infection risks of long lines and crowded polling locations.” —Tucker Higgins

Minneapolis Federal Reserve President Neel Kashkari said the central bank still has monetary policy options to deal with the coronavirus crisis, though negative interest rates still are unlikely.

In a CNBC interview, Kashkari called on Congress to act in situations like a potential bailout for the airline industry. He said the Fed is in the “fourth round” of responders to the crisis, behind health care professionals, the public and Congress.

“We are not at the front line of this,” he said on “Squawk Box.” “But we do have a job to do and we are using our tools aggressively to try to make sure the financial system is ultimately working.” —Jeff Cox

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

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