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
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Mar. 14 — There are deeper mines in North America than the Resolution mine but none with a single shaft this long. It is a 6,943 foot concrete barrel, 30 feet in diameter bored into the mountain of Arizona and took six years to dig. Bloomberg’s Matt Philips journeys toward the center of the earth
In a rare move, the Federal Reserve announced an emergency rate cut of 50 basis points in response to the growing threat from the coronavirus outbreak. It’s the first time the Fed has cut rates by half a percentage point since late 2008. “The fundamentals of the U.S. economy remain strong,” Fed Chairman Jerome Powell said
A trader reacts as he works on the floor of the New York Stock Exchange (NYSE) on January 10, 2020 in New York City. Kena Betancur | Getty Images Stock futures tanked in overnight trading on Sunday, triggering “limit down” levels to reduce panic in markets. Contracts on the S&P 500 dropped 5%, reaching a
It could take years to discover the many wines of South Africa’s Western Cape. For travelers with only a few days on their hands, Cape Town is an excellent base for exploring not only the surrounding wine country, but the city’s wine bars and world-class restaurants. Spread over 40,000 square miles, the Cape Winelands include
The U.S. Federal Reserve‘s latest moves — which include cutting interest rates to zero — deserve applause, even though the American economy could still head into a recession given the uncertainty around the coronavirus outbreak, a former Fed official said. “I think recessionary conditions are definitely a risk and we’re dealing with so much uncertainty
A gate area at Fort Lauderdale-Hollywood International Airport is crowded with travelers awaiting Delta flight 1420 to Atlanta Saturday, March 14, 2020. John Scalzi | AP The Trump administration is weighing “all options” to curb the coronavirus outbreak in the U.S., including an outright halt to on domestic air travel, a senior official said Sunday.
Many international students are not able to come to the U.S. and that could cause a significant disruption in our college system. For years, there has been a major influx of students studying in this country, particularly from China. In fact, one-third of all the international students in the U.S. come from China — more
Markets are functioning well. The trading stops are working as designed. After nearly a 30% drop, investors will begin to consider buying. But, with a global recession at hand, the fundamentals on which value decisions are based will deteriorate. It’s a guess as to how far. So what’s the right price to pay for something
US President Donald Trump gestures as CEO of Bank of America Brian Moynihan (L) speaks during a meeting with banking leaders to discuss how the financial services industry can meet the needs of customers affected by COVID-19 at the White House in Washington, DC on March 11, 2020. Brendan Smialowski | AFP | Getty Images
A ticket agent helps travelers arriving on a flight from Frankfurt, Germany before travel restrictions are enacted hours later on flights from Europe entering the U.S. because of concerns of the novel coronavirus (COVID-19) at the Denver International Airport outside Denver, Colorado, U.S. March 13, 2020. Jim Urquhart | Reuters Thousands of Americans returning home
The 6,600 passengers on board the world’s largest cruise ship produce a lot of trash. We went inside the secret, crew-only deck of Royal Caribbean’s Symphony of the Seas to see how crews process millions of pounds of water, food, and dry waste each year. MORE TRANSPORTATION CONTENT: How The World’s Largest Cruise Ship Makes
Oil prices had one of their biggest ever falls after the effective collapse of an agreement between Saudi Arabia-led Opec and Russia. The agreement was designed to support the market against the impact of coronavirus. Senior energy correspondent Anjli Raval explains. See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start
DenisTangneyJr Students at Georgetown College in Kentucky received a one-two punch of bad news this week. Amid the coronavirus, classes would be moved online until at least April and most students would need to vacate their dorms. Oh, and they shouldn’t expect a refund. “[T]he college is not in a financial position to offer any rebates
An aircraft operated by British low cost airline Easyjet moves past other aircrafts as a rainbow is seen at Amsterdam Airport Schiphol on March 9, 2020 in Schiphol, Netherlands. Yuriko Nakao | Getty Images Shares of major U.S. airlines got a respite Friday on expectations that the government will provide targeted financial relief from the
Omar Marques | LightRocket | Getty Images Bitcoin lost its allure as a safe-haven asset this week. The world’s first and most widely held cryptocurrency dropped 50% over the past two days. Bitcoin — sometimes referred to as “digital gold” — fell more than 30% Friday to its weakest level since March 2019, according to
A customer pays for her groceries after shopping at a Walmart store ahead of the Thanksgiving holiday in Chicago. Kamil Krzaczynski | Reuters Walmart is reducing hours at all of its U.S. stores to allow more time to replenish shelves and clean and sanitize stores, the retailer announced Saturday in a letter on its website. The national retailer
Hero Images | Getty Images This week’s market activity probably wasn’t the shot of confidence you were hoping for if you’re retired or planning to retire soon. And your first instinct is probably to protect your retirement income. Yet experts caution that the worst way to do that is to take dramatic actions with your
The end to the record-long bull market is now a reality. However, entering a bear market doesn’t always mean a recession is upon us, history shows. This week, the S&P 500 and the Dow Jones Industrial Average entered bear markets, ending their historic 11-year bull runs. A bear market marks a 20% decline from all-time highs. As a
Chesnot | Getty Images Investors likely won’t get their fix for newly public companies for a long time thanks to the financial turmoil caused by the spreading coronavirus. Logistics issues aside for investment bankers unable to travel, market volatility like this scares off companies who want to raise capital. The initial public offering calendar is
Oracle CEO Safra Catz delivers a keynote address during the 2019 Oracle OpenWorld on September 17, 2019 in San Francisco, California. Oracle CEO Safra Catz kicked off day two of the 2019 Oracle OpenWorld with a keynote address. The annual convention runs through September 19. Justin Sullivan | Getty Images Oracle shares rose as much
As U.S. grocery stores respond try to keep shelves stocked during the coronavirus outbreak, some major chains have begun to limit purchases of food items and ramp up hiring. Texas grocery chain H-E-B is limiting purchases of at least a dozen popular food items, including eggs, milk, bread and boxed pasta. Limits vary by item. Eggs, pasta
The Republic of Molossia is a micronation in the middle of the desert, an hour outside of Reno. What’s a micronation? CNNMoney’s Vanessa Yurkevich finds out.
Treasury Secretary Steven Mnuchin speaks with reporters outside White House in Washington, DC, on March 13, 2020. Jim Watson | AFP | Getty Images Treasury Secretary Steven Mnuchin said Friday that the Trump administration would consider suspending people’s student loan payments as part of a larger strategy to mitigate the economic consequences of the coronavirus. “I can
CNBC’s Jim Cramer praised President Donald Trump’s latest response to the coronavirus outbreak on Friday, calling the private sector involvement “a very big deal.” “These are real companies, and they want to do something about it,” Cramer said on “Closing Bell.” “This is not a bunch of bureaucrats who are saying, ‘We ought to do
Given that Australia’s indigenous population thrived for thousands of years before Europeans arrived, it would be logical to assume the country’s native plants — known as bush food — would have long featured on restaurant menus. Not so. For decades, most chefs avoided ingredients like mountain pepper, quandong (a wild peach) and wild rosella, and
People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City. Spencer Platt | Getty Images JPMorgan Chase said that two employees at its headquarters in New York City had the coronavirus, the first confirmed instances at the biggest U.S. bank. The company said that two separate cases were found recently,
Slack shares plunged in extended trading on Thursday after the maker of messaging software provided a disappointing forecast for the fiscal first quarter, citing uncertainty surrounding the coronavirus. The stock sank more than 20% to $17.03. That adds to an almost 10% drop during regular trading, as the shares fell alongside the broader market, which
The Norwegian Cruise Line Norwegian Bliss cruise ship passes through John Hopkins Inlet in Glacier Bay, Alaska, July 11, 2019. Tim Rue | Bloomberg | Getty Images The coronavirus pandemic has brought the bulk of the cruise industry to a standstill as Royal Caribbean and Norwegian Cruises announced Friday the suspension of operations. Norwegian Cruises
If the new coronavirus interferes with your already-planned trip, don’t count on your travel insurance to provide much help. Unless you have “cancel for any reason” coverage, you might be out of luck. While some insurers have loosened their restrictions, fear of contracting the new coronavirus, or COVID-19, is not covered under a standard policy,