Coronavirus live updates: Tokyo 2020 Olympics delayed; New Mexico issues stay-at-home order

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 387,382
  • Global deaths: At least 16,767
  • US cases: At least 46,450
  • US deaths: At least 593

The data above was compiled by Johns Hopkins University. 

New Mexico Gov. Michelle Lujan Grisham issued “stay-at-home” instructions late Monday, to take effect Tuesday. Residents should remain in their homes except for outings absolutely necessary for health, safety and welfare, Grisham said in a statement.

New Mexico Secretary of Health Kathy Kunkel also issued an order closing all non-essential businesses. The public health emergency order requires 100% of the state’s non-essential workforce to work from home. It is in effect until April 10. Essential businesses that are allowed to remain open include health-care operations, homeless shelters and grocery stores. —Hannah Miller

Two of the largest private labs in the U.S. will collectively be able to process more than 300,000 COVID-19 tests by the end of the week, their CEOs say. LabCorp CEO Adam Schechter told CNBC’s “Squawk Box” the company is processing around 20,000 tests daily and will by the end of the week be able to “a lot more” than 100,000 tests per week. Quest Diagnostics is conducting about 25,000 COVID-19 tests per day, with plans of increasing daily capacity to around 30,000 by the end of the week, CEO Steve Rusckowski told CNBC’s “Closing Bell” on Monday. That would put Quest’s weekly capacity around 200,000, he said. —Kevin Stankiewicz

Stocks jumped on Tuesday as investors hoped U.S. lawmakers were close to an agreement on a stimulus bill to rescue the economy from the coronavirus.

The Dow Jones Industrial Average traded more than 1,300 points higher, or 7.1%. The S&P 500 gained 6.2% while the Nasdaq Composite advanced 5.7%. —Fred Imbert, Thomas Franck

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. —Jabari Young, Reuters

Source: https://www.cnbc.com/2020/03/24/coronavirus-live-updates.html

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