Japan indicates Olympics could be delayed, Trump calls for rate cut

A woman wears a face mask as she waits on the subway after the first confirmed case of coronavirus was announced in New York State in New York, March 2, 2020.

Andrew Kelly | Reuters

This is a live blog. Please check back for updates.

All times below are in Eastern time.

  • Global cases: At least 91,300, according to data compiled by Johns Hopkins University.
  • Global deaths: At least 3,110, according to data compiled by Johns Hopkins University.
  • US cases: At least 91, according to the CDC. 
  • US deaths: At least 6, according to the CDC and state health officials.

8:05 am: Japan indicates Olympics could be delayed

Japan’s Olympic minister says the country’s contract to hold the Tokyo Games only specifies the event has to be held during 2020. Seiko Hashimoto’s response to a question in the upper house of parliament implies the Olympics could be held later in the year and would not have to start on July 24 as planned. —Associated Press

7:52 am: Visa warns of revenue hit due to outbreak

Visa warned that its second-quarter revenue growth would be slower than its previous forecast, becoming the latest payments services provider to be affected by the coronavirus outbreak.The company said it expects current-quarter revenue growth to be between 2.5 and 3.5 percentage points lower than its previous forecast of low double-digit growth when compared with the first quarter. —Reuters

7:23 am: Trump asks Fed for ‘big cut’ after Australia slashes rates on virus impact

President Donald Trump speaks during a news conference on the coronavirus outbreak at the White House in Washington, February 29, 2020.

Joshua Roberts | Reuters

President Donald Trump once again called on the Federal Reserve to deliver some major policy easing measures, after the Australian central bank cut rates to record lows and noted the impact of the coronavirus outbreak. The Reserve Bank of Australia said it was cutting its cash rate to 0.5% to mitigate the economic impact of the new coronavirus. Philip Lowe, the bank’s governor, said that the epidemic was having a “significant” hit on the country’s economy. Within hours the U.S. president responded on Twitter, saying the U.S. central bank’s chairman had “called it wrong from day one.” —Amaro

7:17 am: Head of Iran’s emergency medical services reportedly infected

The head of Iran’s emergency medical services, Pirhossein Kolivand, has been infected with coronavirus, the ILNA news agency reported. Kolivand’s “health is good and there is no need for concern”, the office said in a statement, according to ILNA. Seventy seven Iranians have died from coronavirus and 2,336 have been infected, Iran’s Health Ministry announced on Tuesday. —Reuters

7:08 am: FDA and CDC boost supply of masks for healthcare professionals

The Food and Drug Administration and the Centers for Disease Control and Prevention broadened the types of masks healthcare workers can use to “industrial” masks amid reports of a nationwide shortage and price gouging. The FDA granted the CDC’s request for an emergency use authorization to allow health care personnel to use masks that previously were only approved for industrial settings. The move broadens the category of masks that doctors and nurses are approved to use in a healthcare setting. “The FDA and CDC’s action to allow a wider range of respirators to be used in healthcare settings will help those on the front lines of this outbreak and their patients, which will keep all Americans safe,” HHS Secretary Alex Azar said. “We will continue pursuing every possible avenue to secure the protective gear needed for responding to the COVID-19 outbreak.” —Feuer

5:46 am: UK government publishes ‘battle plan’ to tackle spread of coronavirus

Britain’s government unveiled its plans to tackle the spread of the virus, warning that up to a fifth of the workforce could be off sick during a peak period. “Given that the data are still emerging, we are uncertain of the impact of an outbreak on business. In a stretching scenario, it is possible that up to one fifth of employees may be absent from work during peak weeks. This may vary for individual businesses,” the government said. U.K. Prime Minister Boris Johnson said that in the worst possible scenario, the army is ready to step in. Johnson warned on Monday that there could be a “very significant expansion” of the outbreak among the population. Currently, there are 39 cases of the virus in the U.K. —Ellyatt

4:38 am: Bank of England governor says its role is to help UK through ‘an economic shock’

4:01 am: Germany’s number of coronavirus cases rises

The number of confirmed cases rose in Germany to 188, up from 157 on Monday afternoon, according to the country’s RKI health institute. Germany’s Health Minister Jens Spahn warned last week of a potential epidemic in the country. —Ellyatt

4:00 am: Beijing, Shanghai step up restrictions on travelers from overseas

Two of China’s largest cities, and the province of Guangdong that borders Hong Kong and Macau, announced that visitors from countries severely hit by the new coronavirus must quarantine themselves for 14 days upon arrival. These countries include South Korea, Italy and Japan. The requirement applies to both Chinese and non-Chinese residents. Previously, travelers who had not been in mainland China prior to arrival in Beijing did not have to self-quarantine. —Cheng

Read CNBC’s coverage from the Asia-Pacific overnight: UK warns fifth of workforce could be off sick; army prepared

— CNBC’s Holly EllyattWeizhen Tan and Yen Nee Lee contributed to this report. 

Source link