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 169,387, according to Johns Hopkins University.
- Global deaths: At least 6,513, according to Johns Hopkins University.
- US cases: At least 3,774, according to Johns Hopkins University.
- US deaths: At least 69, according to Johns Hopkins University.
7:37 am: Roche CEO says company will provide over 400 tests this week
In an effort to boost screening capacity to help contain the growing epidemic, the U.S. Food and Drug Administration issued emergency authorization last week for a COVID-19 test made by Swiss diagnostics maker Roche. The company says automated tests can provide results in 3.5 hours as opposed to a few days. The company will begin its rollout with over 400 tests this week, Roche CEO Dr. Severin Schwan told CNBC’s “Squawk Box.”
“We are of course ramping up supply as much as we can,” he said, adding that the tests go first where they’re most needed. ”For that purpose, we are closely working together with the authorities, the CDC, in particular, to allocate tests to those labs and to those regions where we can make the biggest impact during this crisis.” —Will Feuer
7:05 am: Retail store closures in the US could explode
Temporary closed signage is seen at a store in Manhattan borough following the outbreak of coronavirus disease (COVID-19), in New York City, U.S., March 15, 2020.
Jeenah Moon | Reuters
The year 2019 brought with it record store closures in the retail industry in the U.S., and 2020 looks like it is about to be a lot worse. Retail store closures this year are now on pace to be “double what we saw last year,” which was a record year, said Deborah Weinswig, CEO and founder of retail advisory and research firm Coresight Research. “I think that is already in motion. … If [COVID-19] stays longer, it will be greater.” —Lauren Thomas
7:01 am: Iran’s death toll surges to 853
Iran’s death toll has reached 853, with 129 new deaths in the past 24 hours, a health ministry official tweeted on Monday, adding that 14,991 people have been infected across Iran. “In the past 24 hours we had 1,053 confirmed new cases of coronavirus and 129 new deaths,” Alireza Vahabzadeh tweeted. To contain the outbreak in Iran, one of the deadliest outside of China, officials have called on people to stay at home. —Reuters
6:21 pm: UK government asks manufacturers to make ventilators, health equipment
U.K. Prime Minister Boris Johnson will ask manufacturers to support the production of essential medical equipment, such as ventilators, for the National Health Service, as the country prepares for the outbreak to worsen.
“Preparing for the spread of the coronavirus outbreak is a national priority and we’re calling on the manufacturing industry and all those with relevant expertise who might be able to help to come together to help the country tackle this national crisis,” a Downing Street spokesperson said late Sunday.
“We need to step up production of vital equipment such as ventilators so that we can all help the most vulnerable, and we need businesses to come to us and help in this national effort.” —Holly Ellyatt
5:28 am: Impact will last at least until the third quarter, Germany’s economy ministry says
The German economy ministry said the impact of COVID-19 meant it no longer expected an economic upswing in the first quarter, Reuters reported. The ministry added that the economy was unlikely to stabilize before the third quarter at the earliest. “The strength and duration of the impact cannot yet reliably be forecast,” the ministry said. “But given the very rapid pace of developments, we have to anticipate significant economic impacts.” —Holly Ellyatt
4:48 am: ’Where is Boris?’: The UK government’s cautious strategy provokes a public backlash
Britain’s Prime Minister Boris Johnson visits a laboratory at the Public Health England National Infection Service in Colindale on March 1, 2020 in London, England.
WPA Pool
Many members of the British public have vented their frustration at the U.K.’s government’s apparent cautious approach when it comes to containing, and now delaying, the spread of the coronavirus. As of Sunday, the U.K. has a total of 1,395 positive cases of coronavirus and 35 people have died, according to the latest data from Johns Hopkins University. —Holly Ellyatt
4:46 am: European shares slide 8% and airline stocks tank as regional shutdown widens
European markets plunged as much of the continent went into shutdown mode to prevent the spread of the new coronavirus. The pan-European Stoxx 600 dropped 8% near the start of trading, travel and leisure stocks plummeting 14.3% to lead losses as all sectors and major bourses slid into the red. —Elliot Smith
3:30 am: Asia markets dive, with Australia leading losses
Asia markets plummeted even after the U.S. Federal Reserve announced a massive monetary stimulus campaign to curb slower economic growth in the middle of the COVID-19 pandemic.
Australian markets led losses in the Asia-Pacific region, as it tanked nearly 10%. Mainland Chinese stocks dropped as well, with the Shanghai composite 3.4% lower, while the Shenzhen composite slipped 4.834% and the Shenzhen component plunged 5.34%. Hong Kong’s Hang Seng index also fell 4.38%. Overall, the MSCI Asia ex-Japan index declined around 5%.
“Ironically, markets might have perceived the Fed’s response as panic, feeding into its own fears; especially as COVID-19 cases spike globally, prompting harder border controls,” Vishnu Varathan, head of economics and strategy at Mizuho Bank, wrote in a note. —Eustance Huang
Read CNBC’s coverage from CNBC’s Asia-Pacific and Europe teams overnight here: New York City to limit restaurants and bars to take-out and delivery, movie theaters to shut
Reuters and CNBC’s Saheli Roy Choudhury, Weizhen Tan, Holly Ellyatt contributed to this report.