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.Â
- Global cases: More thanÂ 387,382
- Global deaths: At leastÂ 16,767
- US cases: At leastÂ 46,450
- US deaths: At leastÂ 593
The data above was compiled by Johns Hopkins University.Â
The International Olympic Committee postponed the 2020 Olympic and Paralympic Games, officials announced Tuesday. The event was scheduled to start July 24 in Tokyo.
Japanese Prime Minister Shinzo Abe said he and the head of the IOC agreed to delay the 2020 Olympics in Tokyo for about a year. The games will take place “no later than summer 2021,” according to a statement from the IOC.
Abe was speaking to reporters after a phone call with IOC President Thomas Bach on postponing the Games amid growing concerns over the coronavirus pandemic.
Tokyo had completed preparations when the virus started spreading across the world. Despite insisting for months the Games would go ahead as planned, Abe this week said a delay may be unavoidable if all the events could not be held.Â âJabari Young, Reuters
Futures contracts tied to the major U.S. stock indexes surged in premarket trading on hopes an agreement on a stimulus bill to rescue the economy from COVID-19 was close. As of 6:24 a.m ET.,Â Dow Jones Industrial Average futuresÂ jumped 930 points, or 5%, to hit so-called limit up levels.Â S&P 500Â futures andÂ Nasdaq futuresÂ were also up 5% and “limit up.” TheÂ S&P 500 SPDR ETFÂ was up 5.1% in premarket trading.Â âThomas Franck
Gilead Sciences’Â experimental drug remdesivir, seen as one of the more promising potential treatments for the coronavirus, on Monday received the orphan drug designation from the U.S. Food and Drug Administration. The announcement comes days after President Donald Trump called on the FDA to streamline its approval process for treatments such as remdesivir, which is currently being tested in clinical trials, with results expected as early as next month. The orphan drug status provides a seven-year market exclusivity period, as well as tax and other incentives for drug companies developing treatments for rare diseases that affect fewer than 200,000 people.Â âReuters
Two months afterÂ ChineseÂ authorities locked down the city at the center of the original outbreak, the end is in sight.Â Hubei province said that travel restrictions on the capital city of Wuhan will be removed starting Apr. 8, which would end aÂ lockdown that began on Jan. 23.Â New confirmed virus cases in China have dwindled in the last several days, with all or the majority now attributed to travelers returning from overseas.Â âEvelyn Cheng