US stimulus package fails again to pass

US stimulus package fails again to pass


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All times below are in Beijing time.

7:56 am: No more votes expected Monday after US Senate coronavirus stimulus bill fails again

There will be no more Senate votes Monday on a massive stimulus package as Democrats and Republicans continue to negotiate terms, two Senate aides told CNBC.

The measure, which has a price tag well over $1 trillion and is intended to limit the economic pain from the coronavirus outbreak, failed a key procedural vote in the Senate on Monday afternoon.

Senate Minority Leader Chuck Schumer had warned that a deal would not pass until Republicans agreed to key changes. He said that negotiations would continue even while the Senate took the procedural vote. — Lauren Hirsch, Jacob Pramuk

7:48 am: S&P says global light vehicle sales will decline by almost 15% in 2020

S&P Global Ratings said it predicted light vehicle sales worldwide to decline by almost 15% in 2020 due to the coronavirus pandemic and sharply lower global growth. Many automakers have announced temporary production halts at their plants due to a decline in demand for their vehicles. 

“In our updated scenario, global light vehicle sales will likely decline to less than 80 million units in 2020 versus 90.3 million in 2019,” said S&P Global Ratings credit analyst Vittoria Ferraris in a statement. “We expect this decline will be particularly severe in the second quarter of the year, only gradually recovering thereafter provided that restrictive measures are effective in slowing contagion.” — Saheli Roy Choudhury

7:34 am: Italy’s death toll above 6,000

Italy’s health ministry said as of 6 p.m. local time on March 23, there were a total of 63,927 confirmed cases in the country. The one-day rise in the number of new infections was the smallest increase for five days, Reuters reported earlier.

At least 7,432 people have recovered from the respiratory disease, COVID-19, and about 6,077 people have died.

People wearing protective mask walk near Piazza del Popolo during the Coronavirus emergency on Mar. 14, 2020, in Rome, Italy. The Italian government has taken the unprecedented measure of a nationwide lockdown by closing all businesses except essential services such as, pharmacies, grocery stores, hardware stores and tobacconists and banks, in an effort to fight the coronavirus outbreak.

Antonio Masiello | Getty Images

As it attempts to tackle the virus outbreak, the Italian government has practically shut down most of the country. Movements are restricted as people are only allowed outdoors on essential business; restaurants, bars, cafes, and other public places are closed.

Recently all industrial production and almost all private and public offices were ordered to shut. Only what officials consider to be “essential products” are going to be developed. — Saheli Roy Choudhury

All times below are in Eastern time.

7:18 pm: What people are buying as they heed stay-at-home orders

In the weeks since the U.S. confirmed its first case of COVID-19, consumer habits have been shifting. 

Medical masks, hand sanitizer, gloves and toilet paper have flown off shelves in the U.S., as more people began to look to protect themselves and prepare for long stints isolated in their homes. But, those aren’t the only items that consumers are spending money on in stores and online.

In addition to medical supplies, such as cold medicine, thermometers and tissues, and items for the pantry, such as canned goods and bottled water, people have begun shelling out money for entertainment. Board games, puzzles and video games have become popular items. —Sarah Whitten

7:04 pm: Updated map of US coronavirus cases, which total 43,214

6:59 pm: Volunteers from tech companies like Amazon, Apple and Google build coronavirus-tracking site in six days

In the last week, a group of thirty volunteers from tech companies like Apple, Amazon and Alphabet put together a website called “covidnearyou” that aims to track the coronavirus as it spreads. 

The idea started when Prem Ramaswami, the head of product at Alphabet’s Sidewalk Labs, and his wife, started feeling sick more than a week ago. When he tried to get a test for the coronavirus, his doctor told him that would not be possible. According to Ramaswami, he was denied access to the test because he hadn’t been in touch with anyone who had tested positive.

Ramaswami, who previously worked on health projects at Google, wondered how he could help others in the same boat. —Christina Farr

Read CNBC’s coverage from the U.S. overnight: US cases top 43,000, Florida institutes New York and New Jersey travel rules


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