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 1,650,200
- Global deaths: At least 100,376
- US cases: More than 473,093
- US deaths: At least 17,836
The data above was compiled by Johns Hopkins University.
2:00 pm: Fed’s Quarles says Main Street lending program should be running in 2 or 3 weeks
The Federal Reserve Main Street lending program targeting mid-size businesses should be up and running in a few weeks, a senior central bank official said.
Vice Chairman Randal Quarles, the Fed’s chief banking supervisor, said the facility should be available shortly as officials continue to work out operational details.
“We are putting together the mechanisms for that credit to be distributed through the banks,” Quarles said during a webinar hosted by the University of Utah. “That’s probably two to three weeks away.”
The Fed announced details of the program Thursday, with the expectation that it can provide up to $600 billion in loans for companies with up to 10,000 employees. —Jeff Cox
1:52 pm: Fed’s Mester says policymakers want to prevent ‘lasting damage’ to the economy
The U.S. economy was on a strong footing before the coronavirus pandemic and Federal Reserve officials are working to help the economy rebound quickly once businesses that were shuttered because of the virus begin to reopen, Cleveland Fed President Loretta Mester said.
“What public policy needs to do, and this includes the Fed, is to help ensure that the shutdown in activity that is being felt doesn’t cause lasting damage to the economy,” Mester said during a virtual forum organized by the City Club of Cleveland. “And to make sure that we give aid and relief to the employees and workers and the businesses that are bearing the brunt of that shutdown.” —Reuters
1:41 pm: Global coronavirus deaths surge past 100,000, doubling in nearly a week
The number of deaths caused by the coronavirus surged past the 100,000 mark, doubling in nearly a week as the pandemic continues to spread across the globe, according to data from Johns Hopkins University.
The number of global deaths surpassed 50,000 people on April 2, just after global infections passed 1 million people, according to data from Johns Hopkins University. —Weizhen Tan, Noah Higgins-Dunn
1:29 pm: Consumer prices fall most in five years as gasoline plunges and travel costs decline at record pace
Consumer prices fell 0.4% in March, the largest monthly decline in five years, as Americans stopped traveling and the cost of gasoline, airfares and hotel rooms plummeted.
March’s decline was the biggest since January 2015, according to the Labor Department. It follows a 0.1% gain in February. Energy costs overall slid 5.8%, with gasoline prices tumbling 10.5%. Airfares plunged a record 12.6%, while hotel and motel room prices fell 6.8%.
The core consumer price index, excluding food and energy, fell 0.1% in March, its first monthly decline since January 2010. Consumer prices are up 1.5% over the past year while core inflation has risen 2.1% over the last 12 months.
“In terms of the core measure, the March decline was one of the weakest readings on record, and it was pulled down by record-large drops in the prices of airfares … lodging away from home … and apparel,” wrote JPMorgan economist Daniel Silver. Apparel prices dropped 2%. —Patti Domm
1:17 pm: Apple and Google team up to track spread of coronavirus using iPhone and Android apps
Apple and Google announced a partnership on Friday in which the two companies will work together to provide tools that will help track the spread of coronavirus.
Apple said both companies will launch developer tools (called APIs) in May that will “enable interoperability between Android and iOS devices using apps from public health authorities.” The apps will launch on the iTunes App Store and the Google Play Store.
“Second, in the coming months, Apple and Google will work to enable a broader Bluetooth-based contact tracing platform by building this functionality into the underlying platforms,” Apple said in a press release. —Todd Haselton
1:09 pm: The IRS has a new website where you can get your stimulus relief check if you’re not required to file taxes
The IRS and the U.S. Treasury on Friday launched a new IRS website where people who aren’t required to file taxes can go to enter payment information to receive their stimulus relief check.
The portal is available for U.S. citizens and resident aliens who have a valid social security number, can’t be claimed as a dependent of another taxpayer and who have adjusted gross income under certain limits, the IRS site says. The site asks for payment information, your full name, mailing address and email address.
“People who don’t have a return filing obligation can use this tool to give us basic information so they can receive their Economic Impact Payments as soon as possible,” said IRS Commissioner Chuck Rettig. —Todd Haselton
12:44 pm: How telemedicine has surged during the pandemic
One Medical Chair and CEO Amir Dan Rubin and CNBC’s Bertha Coombs discussed on Facebook the surge of telemedicine during the coronavirus pandemic. They covered how technology is being used to expand testing for COVID-19, cybersecurity concerns surrounding telemedicine, and what measures companies might need to take to get workers back in the office. —Bertha Coombs
12:32 pm: 3M sues company for allegedly price gouging masks sold to New York City
Industrial company 3M announced Friday that it is suing a New Jersey company for alleged price gouging and illegal trade practices involving N95 respirators, a key piece of medical equipment in short supply during the coronavirus pandemic.
The company, Performance Supply LLC, tried to sell $45 million worth of masks at markups up to 500% to New York City officials while falsely claiming to be affiliated with the larger manufacturer, 3M alleged in the lawsuit. —Jesse Pound
12:01 pm: New York state sees negative net change in ICU admissions
An employee of a nearby hospital that has a special coronavirus intake area leaves a market in protective clothing on April 09, 2020 in the Brooklyn borough of New York City. Hospitals in New York City, which has been especially hard hit by the coronavirus, are facing shortages of beds, ventilators and protective equipment for medical staff. New York City has nearly 88,000 confirmed COVID-19 cases as of this afternoon, according to health data.
Spencer Platt | Getty Images
New York State saw a negative net change in intensive care admissions on Thursday for the first time since the coronavirus crisis began, Gov. Andrew Cuomo said Friday.
The decline, which measures the difference between new admissions to intensive care and patients who have recovered or died, was 17. The measurement increased by 302 and 84 on the prior two days, and has been volatile in recent weeks. —Jesse Pound
11:52 am: WHO says coronavirus spread is slowing
World Health Officials said on Friday that the coronavirus appears to be slowing in some of the hardest-hit countries in Europe like Spain, Italy, Germany and France, however, lifting stay-at-home orders too soon could lead to a “deadly resurgence.”
″[The] WHO wants to see restrictions lifted as much as anyone. At the same time, lifting restrictions too quickly could lead to a deadly resurgence. The way down can be as dangerous as the way up if not managed properly,” WHO Director-General Dr. Tedros Adhanom Ghebreyesus said. —Noah Higgins Dunn
11:35 am: Elizabeth Warren introduces bill to crack down on price gouging
Sen. Elizabeth Warren introduced a bill Friday that would prohibit price gouging during national emergencies, including the Covid-19 pandemic.
Under the Price Gouging Prevention Act, the FTC would be empowered to enforce a ban on excessive price increases of consumer goods during national emergencies. It would have to consider any price increase above 10% to be price gouging during such a declaration. The House bill was crafted based on a similar California law for statewide emergencies. —Lauren Feiner
11:29 am: Google makes it easier to find virtual care
Google on Friday said it is rolling out two new features in its Search and Maps products to direct people looking for medical care to available doctors, including telehealth options when they’re available. For instance, when people search for immediate general care (like “urgent care near me” or “walk-in clinics”), they may see national virtual care platforms alongside the results. When there are specific doctors’ offices with virtual care options, those will pop up as people search for them. —Christina Farr
10:54 am: How the people are celebrating Easter and Passover under lockdown this weekend
Millions of the faithful will be celebrating Easter and Passover this year separated from their families, friends and religious communities as the coronavirus continues to lay siege on much of the world.
You can check out photos of how people are celebrating while under lockdown here. —Adam Jeffrey
10:17 am: Boeing weighs options to reduce payroll by 10%
No decision has been reached yet but the final reduction would likely include voluntary layoffs, early retirements, natural attrition and potentially mandatory layoffs. Boeing is not manufacturing any commercial airplanes due to the coronavirus pandemic. —Phil LeBeau
10:00 am: Outbreak in Detroit exposes the city’s racial and economic divides
While the Detroit is known for its toughness and grit, it also has widespread poverty, which makes it harder for many residents to get the health care and medications they need. Despite a thriving downtown for the first time in decades, Detroit’s rapid rise as a nationally recognized hot spot for the pandemic has magnified the city’s racial and socioeconomic inequities and made the jobs of doctors and nurses caring for patients with COVID-19 more complex.
Black people make up about 14% of Michigan’s population, but 33% of its coronavirus cases and 40% of all COVID-19 deaths. —Michael Wayland, Melissa Repko and William Feuer
9:54 am: Wild animals roam empty streets in cities across the world
Wild animals have begun moving into cities as people remain in lockdown around the world. Peacocks stroll the streets of Ronda, Spain; a gang of goats wander around a seaside town in North Wales; a puma climbs down from the Andes Mountains into Santiago, Chile; and coyotes trot around San Francisco.
Check out more photos and stories of wild animals spotted around the world here. —Emma Newburger
9:44 am: U.S. Dept. of HHS begins delivering $30 billion in aid
The U.S. Department of Health and Human Services said it will begin distributing an initial $30 billion in relief funding to health-care providers on Friday, which is part of the $100 billion relief fund passed in the coronavirus aid, relief and economic security, or CARES, act. The funding will be used to support health-care-related expenses or lost revenue caused by the coronavirus and will provide testing and treatment for uninsured Americans so they don’t receive “a surprise bill from a provider,” according to a statement released by HHS. The department said it is partnering with UnitedHealth Group to deliver the initial $30 billion.
HHS said the initial distribution of relief funds will go to hospitals and providers that are enrolled in Medicare. The department and the Trump administration are working on additional relief fund distributions that will focus on providers particularly impacted by COVID-19, rural providers and other providers that serve the Medicaid population, HHS said. —Noah Higgins-Dunn
9:40 am: New York State now has more cases than any other country outside the U.S.
New York state has more confirmed coronavirus cases than any other country outside of the United States, according to data from Johns Hopkins University.
The state has at least 161,807 confirmed cases, overtaking Spain, Italy, France and Germany. The United States leads as the country with the most confirmed cases, clocking in at over 466,000. —Yelena Dzhanova
Correction: This entry was updated to reflect New York state has more confirmed cases than any other country outside the U.S.
9:26 am: England’s death toll rises by 866 in 24 hours
Deaths from coronavirus in English hospitals rose by 866 in the past 24 hours, Reuters reported Friday. The death toll in now 8,114, according to health officials. Fifty-six of those who died had no known preexisting health condition. —Reuters
8:30 am: British Prime Minister Johnson transferred out of ICU
British Prime Minister Boris Johnson, who was admitted to the hospital last weekend after experiencing severe symptoms from the coronavirus, was transferred out of the intensive care unit and into the regular hospital ward Friday, his spokesman said.
“The prime minister is back on a ward and continuing his recovery which is at an early stage. He continues to be in very good spirits,” the spokesman said.
Johnson was moved to the ICU on Monday after his symptoms worsened. —Reuters
8:11 am: Trump urges Congress to approve small business funding, no adds
U.S. President Donald Trump said the funding measure to help small business should be approved by Congress with no additions, as a partisan skirmish in the U.S. Senate cut short a Republican effort to speed the $250 billion in new assistance.
“Democrats are blocking a 251 Billion Dollar funding boost for Small Businesses which will help them keep their employees. It should be for only that reason, with no additions. We should have a big Infrastructure Phase Four with Payroll Tax Cuts & more. Big Economic Bounceback!” Trump said in a Twitter post. —Reuters
Read CNBC’s coverage from CNBC’s Asia-Pacific and Europe teams overnight here: Germany cases jump more than 5,300; outbreak at Chicago’s largest jail