6:05 am: Corona beer sales have NOT taken a hit from virus fears
In any virus outbreak, there is sure to be plenty of misinformation that circulates, but it usually isn’t about beer.
6:19 am: Santa Clara County health officials confirm new coronavirus case, 10th in California
7:43 am: Dow caps worst week for Wall Street since the financial crisis
Stocks tumbled once again on Friday,
capping off their worst week since the financial crisis, as worries over the coronavirus and its impact on the economy continue to rattle investor sentiment. The
Dow Jones Industrial Average dropped 357.28 points, or more than 1%, to 25,409.36. The 30-stock Dow briefly fell more than 1,000 points then rallied into the close in a wild trading session characteristic of the week. The
S&P 500 slid 0.8% to 2,954.22. The
Nasdaq Composite closed flat at 8,567.37 but fell as much as 3.5% on the day. For the week, the Dow fell more than 12% — its biggest weekly percentage loss since 2008. On a points basis, the Dow fell more than 3,500 points, far and away its largest weekly point loss ever. It also ended the week in correction territory, down 14.1% from an intraday record high set Feb. 12. —
Imbert, Huang
8:43 am: Trump says the coronavirus is the Democrats’ ‘new hoax’
9:05 am: China confirms 427 new cases
China’s National Health Commission reported 427 new confirmed cases and 47 deaths over the last 24 hours, bringing the total number of cases in the country to 79,251 as of 4 a.m.
Beijing time. Across the world, the number of new cases tops 84,124 as new infections outside of China spread faster than within the country, according to data compiled by Johns Hopkins University.
At least 2,867 people have died since the virus first emerged from Wuhan, China about two months ago. —Kopecki
9:37 am: North Korean leader calls for stronger anti-virus efforts
North Korean leader
Kim Jong Un has called for stronger anti-virus efforts to guard against COVID-19, saying there will be “serious consequences” if the illness spreads to the country.
10:15 am: China factory activity is slammed by coronavirus, showing record contraction
Manufacturing in China shrank at the fastest pace ever recorded in February, as the world’s second-biggest economy was stung by the coronavirus outbreak that began in Wuhan province and has spread throughout the country. China’s Purchasing Manager’s Index (PMI) came in at a reading of 35.7, the National Bureau of Statistics said on Saturday. A reading below 50 indicates a contraction.
11:05 am: United Airlines offers pilots a month off as demand for China flights collapses
11:21 am: Oregon’s first reported case appears to be ‘community-transmitted’
The individual, an adult who lives in Washington County, has no history of travel to a country where the virus is known to be circulating and is not believed to have had close contact with other confirmed cases.
Officials “are considering it a likely community-transmitted case,” they said.
Washington County lies just to the west of Portland, the state’s largest city. —Kemp
12:23 pm: South Korea reports almost 600 new cases
South Korea reported 594 new cases as of Saturday morning, bringing its total to 2,931, according to the Korea Centers for Disease Control and Prevention.
It also said there were three additional deaths, bringing that total to 16.
Of the new cases, 476 are from Daegu, South Korea’s fourth-largest city, where a large number of infections have been reported. —Tan
12:31 pm: Washington State reports two ‘presumptive positive’ cases
2:55 pm: Australia to bar foreign nationals traveling from Iran
5:27 pm: South Korea records its biggest daily jump in infections
South Korea has 219 new coronavirus cases, according to Korea Centers for Disease Control and Prevention (KCDC).
It said Saturday that the 219 added to the 594 cases confirmed earlier in the day, and brought the country’s total infections to 3,150.
According to Reuters, the country has therefore logged a record daily increase since South Korea confirmed its first patient on Jan. 20. —Clinch
6:24 pm: Iran says its death toll has risen to 43
The new coronavirus has killed 43 people in the Islamic Republic, according to an Iranian Health Ministry spokesman on Saturday.
The country now has 593 confirmed cases with a total of over 720 across the whole of the Middle East, according to AP. —Clinch
7:31 pm: Italy postpones more soccer games
Italy’s top-flight Serie A soccer league will see more matches postponed this weekend due to the outbreak of the new coronavirus.
Juventus vs. Inter will not take place, along with four other matches, according to the country’s footballing authorities.
Italy has over 800 confirmed cases of the virus, one of the largest outside of China. —Clinch
9:52 pm: France bans gatherings of more than 5,000 people
France’s health minister has said that gatherings of more than 5,000 people, in a confined space, will be banned.
This comes as the country’s number of confirmed cases rose to 73 on Saturday.
- Total confirmed cases: More than 85,000
- Total deaths: At least 2,924
The coverage on this live blog has ended — but for up-to-the-minute coverage on the coronavirus, visit the live blog from CNBC’s US team.
.