Coronavirus live updates: Small businesses get pummeled

Medics load a person into an ambulance outside of the Life Care Center of Kirkland, the long-term care facility linked to several confirmed coronavirus cases in the state, in Kirkland, Washington, March 4, 2020.

David Ryder | Reuters

This is CNBC’s 24-hour blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This live blog will be updated throughout the day as the news breaks.

  • Global cases: More than 147,000, according to data from Johns Hopkins University
  • Global deaths: At least 5,539, according to data from Johns Hopkins University
  • U.S.cases: At least 2,174, according to data from Johns Hopkins University
  • U.S. deaths: At least 47, according to data from Johns Hopkins University

10:29 am: Trump attending meetings at White House

President Donald Trump said in a tweet that he is attending meetings on the coronavirus at the White House and will issue a report later.

The federal government is working with state and local governments, Trump said.

The president declared a national emergency for the pandemic on Friday, releasing up to $50 billion that can be used in relief efforts. 

The U.S. House of Representatives has also passed a relief package, which includes more money for Medicaid, but the Senate has not yet voted on the bill. Trump said on Twitter that the bill showed “good teamwork” by Democrats and Republicans.  —Jesse Pound

10:06 am: Students may not get refunds after colleges close early because of coronavirus

More than 200 colleges and universities across the U.S. have closed in an effort to stop the spread of COVID-19.

College administrators find themselves in a chaotic situation with little precedent. Still, many families who find their children sent home early from college will want to see a refund for the meals and housing their children won’t be able to use.

Many colleges have swiftly devised plans to pay back familiesErin Kramer, associate vice president for news, communication and media at Duke University, said the college is “planning to reimburse residential students for paid but unused housing and dining fees.”

Other colleges aren’t making it so easy

“Some colleges do not mention refunds,” said Mark Kantrowitz, a higher education expert. “I would not be surprised if colleges that refuse to provide room and board refunds will face class action lawsuits.” —Annie Nova

9:54 am: Italians are singing songs from their windows to boost morale

Videos have been shared on social media of Italian citizens singing and dancing during a nationwide lockdown amid the coronavirus pandemic.

The videos, from various cities and towns, show people singing from balconies and windows in an attempt to boost morale, with all non-essential shops and services still closed in the country.

Italy is one of the worst affected countries in the world by COVID-19, with 17,660 confirmed cases and 1,266 deaths, according to the latest data from Johns Hopkins University. That’s the largest outbreak outside of China. —Matt Clinch

9:31 am: Spanish government to impose nationwide lockdown

Spain’s government will say all Spaniards must stay home except to buy food or drugs, go to hospital, go to work or other emergencies according to a draft decree seen by Reuters, confirming reports in local media. —Reuters

9:08 am: Trump cheers Friday’s stock bounce, which came after the worst drop in three decades

President Donald Trump praised the Friday rebound in stocks, which came amid an ongoing bear market stemming from the coronavirus crisis and a day after the worst decline since the 1987 Black Monday market crash.

“Biggest stock market rise in history yesterday!” Trump tweeted Saturday morning.

The S&P 500, the U.S. stock market benchmark, , its biggest climb since October 2008 in the wake of the financial crisis. The Dow Jones Industrial Average jumped 9.4%, also for its biggest gain since October 2008. Its 1,985-point rise was its biggest point gain ever.

The bounce in stocks follows a 10% plunge in the Dow of 2,352.60 points. Thursday’s drop was its worst percentage decline since the 1987 crash and its biggest point decline ever.  On Thursday, the S&P 500 plunged 9.5% and entered an official bear market, down more than 20% from its high. —John Melloy

8:44 am: Restaurants, cafes and concert venues are getting pummeled 

Servino Ristorante, an upscale Italian restaurant in Tiburon, California, is a short drive or ferry ride from San Francisco, where scores of software and internet companies have emerged over the past decade. 

Normally the 42-year-old restaurant, with picturesque views of the Bay, benefits from the thriving local tech economy. But with companies including , and instructing their employees to amid concerns about the spreading coronavirus, Servino has to figure out how to survive a looming crisis.

Corporate events in the banquet hall have all been canceled, said Natale Servino, general manager of the family-owned business. And there’s been a big dip in diners coming in from San Francisco.

For people with full-time salaried jobs that come with health coverage and paid leave, the current state of affairs is very inconvenient, and many retirement accounts are looking scary. But for those working at businesses like Servino, who are facing either dramatically reduced income or the prospect of having to find childcare should their kids’ school close, the potential impact of the coronavirus is dire. It may be hard to pay rent or put food on the table. —Ari Levy

8:30 am: Hospitals are canceling elective surgeries to make space for a potential flood of patients 

Tufts Medical Center in Massachusetts started calling patients earlier this week to reschedule elective procedures, such as knee and hip replacements and even annual physical exams, so it could prepare for an influx of patients with coronavirus. 

“As we began to see that we were going to face a significant issue with the pandemic, we started to look at what we could do to slow down the cases with social distancing,” explained the health system’s CEO Michael Apkon by phone. 

“We also saw a reality of limited stock, including personal protective equipment, across the industry,” he continued.

Hospitals in the U.S. are facing mounting pressure to stop performing elective and non-urgent procedures, which represent a major chunk of their annual revenues. Public health officials fear that if these surgeries continue, they’ll sap important supplies and resources that might be needed for the most serious coronavirus cases. — Christina Farr 

4:37 am: Florida reports 25 new cases and 1 additional death

Florida said there were 25 new people who tested positive for the coronavirus, and one additional death.

“One Orange County, FL resident tested positive for COVID-19 while traveling and has died in California,” the health department tweeted.

According to the latest data from the health department, at least 3 Florida residents have died from the flu-like disease that has spread rapidly across the world. —Joanna Tan

2:55 am: Apple to temporarily shut all stores outside Greater China

Apple will be temporarily closing its stores outside Greater China until Mar. 27 but its online stores will still be open.

In a tweet, CEO Tim Cook said that “we must do all we can to prevent the spread of COVID-19.” He added that the iPhone-maker will also be committing $15 million to help with the recovery

As of Friday, all of Apple’s stores in China were set to open after the outbreak forced a prolonged closure of its retail locations. The U.S. technology giant has 42 stores in China and while all have opened their doors, some are operating on limited hours. —Joanna Tan

12:56 am: House passes relief bill, sending it to Senate

The House passed a coronavirus relief plan early Saturday after hours of talks between Democrats and the Trump administration on how to blunt the economic damage of the global pandemic.

The chamber approved the 110-page bill to provide relief to consumers and workers walloped by the outbreak less than an hour after text was released. The measure passed in an overwhelming 363-40-1 vote.

The legislation now heads to the Senate. The upper chamber left Washington for the weekend and will not have a chance to approve it until next week. (See updates at 7 p.m. ET and 7:50 p.m. ET) —Jacob Pramuk

12:15 am: White House physician says Trump shared table with guest who tested positive

Donald Trump was at the same dinner table as a guest who later tested positive for COVID-19, the president’s physician said Friday. The incident took place last weekend, while Trump was hosting a delegation from Brazil at Mar-a-Lago, where he was briefly in contact with the press secretary of Brazil’s President Jair Bolsonaro who also tested positive after the event.

In the second case, Trump shared the dinner table with the guest who “was symptom-free until this morning,” Dr. Sean Conley said in a statement which did not mention the name of the guest.

“There is no indication for home quarantine at this time” as the interactions would be considered low risk for transmission, in accordance with guidelines from the Centers for Disease Control and Prevention, he added. —Joanna Tan

Read CNBC’s coverage from its international team overnight: Jakarta closes all schools, Apple shuts stores outside China

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