Coronavirus live updates: US cases cross 14,000, China economy shows signs of normalizing

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 245,000, according to data compiled by Johns Hopkins University.
  • Global deaths: At least 10,031, according to data compiled by Johns Hopkins University.
  • US cases: At least 14,250, according to data compiled by Johns Hopkins University.
  • US deaths: At least 205, according to the CDC and state health officials.

China’s economy is beginning to show some signs of normalization following the full-blown shock caused by the coronavirus, but stark risks remain, International Monetary Fund officials said in a blog on the economic impact of the pandemic.

Most larger Chinese firms have reopened and many local employees have returned to work, but infections could rise again as national and international travel resumes, the IMF officials said.

Outbreaks in other countries and financial market gyrations could make consumers and firms wary of Chinese goods just as the economy is getting back to work, they said. —Reuters

The German state of Bavaria will impose general restrictions on going outside for two weeks, state premier Markus Soeder said. “It’s not easy to take these decisions,” Soeder said. “We take these decisions according to the best of our knowledge and conscience. There will be a Bavaria after corona, but it will be a stronger one if we don’t look away.” —Reuters

When the damage the coronavirus inflicts on the U.S. jobs market becomes clearer, it could be unlike anything the country has ever seen.

Judging by a host of forecasts from economists, the avalanche of furloughs will easily break the record for most in a single month.

Upcoming weekly jobless claims will shatter the standards set even during the worst points of the financial crisis and the early-1980s recession. Those numbers are expected to be bad, in fact, that the Trump administration, according to several media reports, has asked state officials to delay releasing precise counts.

While the headline unemployment rate is highly unlikely to approach the 24.9% during the Great Depression, it very well could be the highest in almost 40 years, something unthinkable for a jobs market that had been on fire as recently as February. —Jeff Cox

New Orleans Saints head coach Sean Payton says he has tested positive for the coronavirus, is resting comfortably at home and is making his test result public in hopes he can motivate people to do more to fight the pandemic.

Payton learned Thursday that he has tested positive for the coronavirus, he told ESPN before posting a photo of himself smiling as he sat on a couch next to his dog.

“Appreciate the well wishes,” Payton wrote on his Twitter page. “I’m feeling better and fortunate to not have any of the respiratory symptoms. 4 more days at home.”

Payton, 56, is the first employee of either an NFL team or the league to make such a diagnosis public. —Associated Press

Source: https://www.cnbc.com/2020/03/20/coronavirus-latest-updates.html

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