Coronavirus live updates: Layoffs hit restaurants and the worst of the jobs damage could be ahead – CNBC

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.

All data above is provided byJohns Hopkins University.

The extent of the damage done by the COVID-19 spread has been hard to gauge so far. That will change over the next week or so when the Labor Department releases the tallies for weekly jobless claims.

This Thursday's number reflects the period through March 14, with economists surveyed by Dow Jones forecasting a reading of 220,000, or 9,000 above the previous week. But that reading will just begin to reflect some of the fallout.

Wall Street insiders in subsequent weeks are looking for numbers that could approach the all-time record of 695,000 set back in September 1982, a time when the U.S. was battling the runaway inflation that started in the late 1970s. The worst of the financial crisis just missed that mark, with a high of 655,000 in February 2009.Jeff Cox

FacebookCEO Mark Zuckerberg announced the company will roll out acoronavirusinformation center that will show up at the top of every users' news feed. The center has been built in collaboration with health partners, Zuckerberg said. It will roll out to users in the U.S. and Europe over the next 24 hours and globally over the following days.

"The broad consensus is that the biggest role we can help play is encouraging people to take the social distancing orders seriously," Zuckerberg said."The goal here is to put authoritative information from organizations like the GDC and WHO in front of everyone who uses our services."

The company also announced that it will make Workplace, its enterprise communications software, available for free to governments and emergency service organizations for the next 12 months.Salvador Rodriguez

The U.S. Census Bureau is suspending all 2020 census field operations for two weeks starting on Wednesday until April 1, Steven Dillingham, the bureau's director, said in a statement

"Beginning today, in support of guidance on what we can all do to help slow the spread of coronavirus, 2020 Census field operations will be suspended for two weeks until April 1, 2020," Dillingham said.Reuters

Detroit's Big Three automakers plan to temporarily close all U.S. factories.Fordsaid it plans to close its factories in the U.S., Canada and Mexico after Thursday evening and through March 30.General Motorssaid it's closing all North American factories at least until March 30 and will evaluate the situation on a weekly basis after that.Fiat Chrysler, which didn't immediately respond to a request for comment, also plans to close its U.S. factories, according to people familiar with the matter.

The closures would affect 25 final-assembly factories between the three automakers and 150,000 union workers, according to the UAW and each automaker. General Motors has 11 factories, the most between the Big Three, followed by Ford's eight factories andFiat Chrysler'ssix.Phil LeBeau, Noah Higgins-Dunn

Patrons eat at Tom's Restaurant in the Prospect Heights neighborhood of Brooklyn on March 16, 2020 in New York City.

Victor J. Blue | Getty Images

Danny Meyer's Union Square Hospitality Group laid off about 2,000 workers, citing a "near complete elimination of revenue" due to the pandemic.

"Never could I have fathomed a time where the only path forward would be to lay people off so they can receive unemployment, while this company fights to see another day when we can return to our full staffing levels," CEO Danny Meyer said in a statement.

The National Restaurant Association estimates that between5 million to 7 million restaurant jobs will be lost over the next three months.Amelia Lucas

The American Society for Reproductive Medicine (ASRM) recommended the fertility industry suspend certain treatments because amid the outbreak, according to a statement from the organization. ASRM advised health professionals to hold off on in vitro fertilization procedures, intrauterine inseminations and elective procedures. The group also recommended that doctors rely on telehealth rather than in-person interactions. Hannah Miller

The biggest mall owner in the U.S., Simon Property Group, announced it will be closing all of its malls and outlet centers in the country, effective at 7 p.m. until March 29. "The health and safety of our shoppers, retailers and employees is of paramount importance," CEO David Simon said in a statement. Simon is the first U.S. mall owner to take such a broad-sweeping effort, as retailers altogether have temporarily closed thousands of locations in recent days. Lauren Thomas

World Health Organization officials warned against callingCOVID-19the "Chinese virus" as U.S. PresidentDonald Trumphas done, saying that it could unintentionally lead to racial profiling.

"Viruses no know borders and they don't care about your ethnicity, the color of your skin or how much money you have in the bank. So it's really important we be careful in the language we use lest it lead to the profiling of individuals associated with the virus,"Dr. Mike Ryan, the executive director of WHO's emergencies program, said at a press conference.

Earlier Wednesday, Trump defended the term, saying, "it's not racist at all."

"Because it comes from China," Trump told reporters. "That's why."

"I want to be accurate."Dawn Kopecki, Dan Mangan

Delta Air Linessaid it plans to cut its flying by an unprecedented 70%, on a year-over-year basis, after March revenue fell nearly $2 billion short of the same month last year as COVID-19 devastates demand.

The carrier is also halting capital spending, including for new aircraft, and parking "at least" half of its fleet.

April's revenue drop could be even worse, Delta warned. The reduced flying will last "until demand starts to recover," CEO Ed Bastian told employees.Leslie Josephs

Kenneth Frazier, chairman and CEO of U.S. pharmaceutical giantMerck, is appealing to every American to take coronvavirus precautions for the benefit of society.

"Right now, we have the power as citizens to .... slow the spread of this virus," Frazier told CNBC, stressing the best practices of hand-washing and social-distancing as things everyone must do.

"That's what we can do in the next week, month, etc., to ensure we actually don't have the kind of situation that we see in Italy," he said on "Squawk on the Street."

A worker cleans an escalator on Las Vegas Boulevard in Las Vegas, Nevada, U.S., on Tuesday, March 17, 2020.

Joe Buglewicz | Bloomberg | Getty Images

Major hotel chains are temporarily closing properties and seeing occupancy rates tumble as travelers stay at home during the coronavirus outbreak.

Global hospitality research company STR said that for the week of March 8-14, hotel occupancy was down 24.4% to 53% year-over-year. Meanwhile, revenue per available room, a key industry metric, fell 32.5% to $63.74.Harriet Baskas

The World Health Organization said parents need to prepare their kids to guard against COVID-19 after a new study showed that babies and very young children can sometimes develop severe symptoms.

A recent study showed that a number of children in China have developed severe and critical disease, including one death, Dr. MariaVanKerkhove, head of WHO's emerging diseases and zoonosis unit, told reporters during a news conference."What we need to prepare for is the possibility that children can also experience severe disease."

The new study, which was published online in the journal Pediatrics, looked at2,143 cases of children with confirmed or suspected COVID-19 that were reported to the Chinese Centers for Disease Control and Prevention between Jan. 16 and Feb. 8. More than 90% of the caseswere asymptomatic, mild, or moderate cases. However, nearly 6% of the children's cases were severe or critical, compared with 18.5% for adults.Berkeley Lovelace

In the midst of crisis, the U.S. health system is dramatically changing.

Doctors have been told by the federal government that they can have a FaceTime or Skype call with seniors enrolled in Medicare. Hospitals are setting up chatbots, symptom checkers and telemedicine tools virtually overnight to triage patients so the healthy ones can stay home. Some providers have transitioned almost entirely to virtual consults, and hospitals are offering training sessions for those who aren't yet using telemedicine in their practice.

For many of them, including the UC San Francisco cardiologist Ethan Weiss, the experience has been a pleasant surprise.

Telemedicine was "waaaaaaaaay better than I thought," he told CNBC.Christina Farr

A picture taken on March 14, 2020 shows the Apple Store closed in Grote Houtstraat in Haarlem. - Apple is closing all of its stores outside China until March 27 in a bid to slow the spread of the new coronavirus outbreak, CEO said.

Olaaf Kraak | AFP | Getty Images

The U.K. government said it plans to shut schools in England as a result of the coronavirus pandemic.

Speaking at the government's daily press conference on the coronavirus outbreak, Prime Minister Boris Johnson said: "Looking at where we are now, we think now that we must apply further downward pressure on that upward curve by closing the schools."

"So, I can announce today that after schools shut their gates from Friday afternoon, they will remain closed for the vast majority of pupils until further notice." Sam Meredith, Holly Ellyatt

Bill Ackman urged President Donald Trump to shut down the country for 30 days to contain the fast-spreading coronavirus, calling it the only option to rescue the economy.

"What's scaring the American people and corporate America now is the gradual roll-out," Ackman said on CNBC's "Halftime Report." "We need to shut it down now... This is the only answer."

"America will end as we know it. I'm sorry to say so, unless we take this option," he said.Yun Li

To prevent millions of Americans from running out of money amid the coronavirus, the government has announced plans to send out checks to them soon.

When Treasury Secretary Steven Mnuchin made the announcement about the cash infusion on Tuesday, universal basic income proponents felt validated. Now, the group of those calling for such a policy, if only in a temporary rendition, is quickly growing. Already some 1 in 2 Americans say they support a program in which the federal government sends out regular checks to everyone, regardless of their earnings or employment.Annie Nova

Tesla's North America HR leader Valerie Workman sent an email to employees encouraging them to come work, promising they would not be "docked" points in performance reviews if they chose to stay home, and explaining why the Fremont factory and other facilities are up and running amid a COVID-19 pandemic in and beyond California.

The email says Tesla has received conflicting guidance from different levels of government amid the pandemic.

Tesla isreportedly running its Fremont, California, car plant despite "shelter in place" orders initiated across Alameda County (and other counties in the San Francisco Bay Area) to curb theCOVID-19 coronavirusoutbreak.Lora Kolodny

New York Gov. Andrew Cuomo said that President Donald Trump is sending a floating hospital to help the state manage an onslaught of coronavirus cases expected to surge in the next 45 days.

"Right now, in New York specifically, the rate of the curve suggests that in 45 days we could have up to an input of people who need 110,000 beds that compares to our current capacity of 53,000 beds, 37,000 ICU units, ventilators, which compares to a capacity currently of 3,000 ventilators. That's our main issue," Cuomo said at a press conference in Albany.

The number of people infected with the coronavirus in New York state nearly doubled to more than 2,300, Cuomo said. Of those cases, nearly 23% are hospitalized.Amanda Macias, Noah Higgins-Dunn, Will Feuer

CNBC's Jim Cramer called on the federal government to follow through and provide assistance to Boeing and the aerospace industry as the coronavirus continues to upend the American economy.

"It's not a plea for me. It's a plea for the 2 million workers who are in the supply chain," Cramer said on "Squawk on the Street."

Boeing on Tuesday said it was seeking at least $60 billion to assist the aerospace industry as it struggles with declining demand due to the coronavirus.President Donald Trump said the same day that he would support Boeing, which also is a top U.S. defense contractor.KevinStankiewicz

Oil plummeted 18% to a more than 18-year lowas the coronavirus pandemic continues to sap demand for crude and as rising worries about a global recession lead to fears of longer-term demand destruction.

U.S. West Texas Intermediate crudefell 18%, or $4.83, to $22.12 per barrel, its lowest level in more than 18 years. WTI is on pace for its third-worst day on record.

International benchmarkBrent crudeshed 11.6%, or $3.33, to trade at $25.40, its lowest level since 2003.Pippa Stevens

The administration's proposed stimulus package to combat economic fallout from the coronavirus pandemic will include two rounds of direct payments to taxpayers totaling $500 billion, according to a document obtained by NBC.

The White House hopes to send out its first round of checks on April 6, and the second on May 18. It will base payments on income level and family size, according to the document.

Beyond direct payments, the government is looking to set aside $50 billion for the ailing airline industry, as well as $150 billion for "other distressed sectors." It was not immediately clear which industries would be covered, but the tourism and hotel industries are among those that have also asked the government for relief. Lauren Hirsch

Stocks tumbled as the markets remained highly volatile with the government response to the coronavirus fallout still unfolding. A violent reversal in Treasury yields in response to a potential $1 trillion stimulus package helped to unnerve investors.

The Dow Jones Industrial Average dropped 1,547 points, or more than 7%. The S&P 500 fell 6.4% while the Nasdaq Composite slid 5.3%.Yun Li, Fred Imbert

The first wave of bad economic news directly related to the coronavirus crisis is likely to come from the jobs market, and that could be delivered sooner rather than later.

Virtually all of the economic data releases out now cover periods before the COVID-19 spread began to zero in on the U.S. Some of those reports have hinted at a slowdown heading into the worst of the virus period, but the extent of the damage has been hard to gauge.

That will change over the next week or so when the Labor Department releases the tallies for weekly jobless claims.Jeff Cox

The Treasury Department won't extend the tax filing deadline for 2019 returns, Treasury Secretary Steven Mnuchin said on CNBC.

While the Treasury is giving taxpayers a 90-day reprieve on paying amounts owed from last year, you are still required to get your 2019 income tax return submitted by April 15, Mnuchin said on a phone call with CNBC's Jim Cramer.Darla Mercado

From the closing of borders to mandatory quarantines, governments around the world are taking drastic steps to try to contain the coronavirus pandemic.

Past outbreaks provide a blueprint for governments navigating the challenges of COVID-19, which has spread to more than 200,000 people worldwide,according to Johns Hopkins University.

Pandemics such as the 1918 influenza offer one key takeaway: Clear communication from the federal government is key.Elizabeth Schulze

Amazon sellers are expecting the worstafter the company saidthis week it will prioritize shipments of household staples, medical supplies and other coronavirus-related product over everything else.

In addition to household staples and medical supplies, Amazon told sellers it's prioritizing categories such as baby products, health and household, beauty and personal care, grocery, industrial and scientific and pet supplies.

Amazon's decision will help serve shoppers who need to buy toilet paper, disinfectant wipes and other coronavirus-related items, but it threatens to put third-party sellers who don't offer those products in a major bind for at least the next few weeks. Many small retailers rely on Amazon to sell their products online, and the hit to sales has caused some to furlough or lay off employees to soften the blow.Annie Palmer

The National Restaurant Association is asking the federal government for financial relief for the industry as it forecasts sales declines of $225 billion over the next three months.

In a letter to President Donald Trump, House Speaker Nancy Pelosi and Senate Major Leader Mitch McConnell, the lobbying group asked for a $145 billion recovery fund from the Treasury Department for the restaurant and food-service industry.Other proposals included federally backed business interruption insurance, tax measures and disaster unemployment insurance.Amelia Lucas

A man with a mask pushes a cart with a sign reading corpse cartte at Times Square in Manhattan on March 17, 2020 in New York City.

Johannes Eisele | AFP | Getty Images

New York Gov. Andrew Cuomo said he won't approve a "shelter-in-place" order for New York City, a day after Mayor Bill de Blasio told residents to prepare for one.

"That is not going to happenshelter in place, for New York City," Cuomo said on The Daily podcast by The New York Times. "For any city or county to take an emergency action, the state has to approve it. And I wouldn't approve 'shelter in place.'"Will Feuer

Treasury Secretary Steven Mnuchin told CNBC the U.S. will not have 20% unemployment a figure he reportedly warned Republican senators about in a private briefing if they follow the Trump administration's coronavirus plan.

"I've seen that number in the press," Mnuchin told CNBC's Jim Cramer in a television interview. "I didn't in any way say I think we're going to have that."Kevin Breuninger

The International Council of Shopping Centers, which represents America's malls and shopping center owners such as Simon Property Group and Kimco, has sent a letter to the Trump administrationseeking aid. The request comes as retail and restaurant store closures are mounting.

"These closures are placing an insurmountable strain on our members, and we believe federal government action is urgently needed," ICSC CEO Tom McGee said. Lauren Thomas

A man wearing a mask walks by the New York Stock Exchange (NYSE) on March 17, 2020 at Wall Street in New York City.

Johannes Eisele | AFP | Getty Images

Stocks tumbled as the markets remained highly volatile with the government response to the coronavirus fallout still unfolding. A violent reversal in Treasury yields in response to a potential $1 trillion stimulus package unnerved investors.

The Dow Jones Industrial Average dropped 1,400 points, or more than 6.5%. The S&P 500 fell 6.1% while the Nasdaq Composite slid nearly 5%.Yun Li, Fred Imbert

HondaNorth America andBMWare closing plants throughout the U.S. and Europe this week due to an anticipated decline in demand for cars related to the global coronavirus outbreak.Honda said it will be closing four U.S.-based plants for six days starting Monday due to an anticipated decline in market demand.

Approximately 27,600 Honda associates in North America will be affected by this temporary suspension of production, but the company said it will continue full pay for all its associates. In Europe, BMW announced it has started to shutter its dealerships and plants, which will close by the end of this week. The interruption to the plants is scheduled to run until mid-April, the company said. Noah Higgins-Dunn

The new coronavirus will infect half of the global population and have a fatality rate of up to 3%, analysts said.

"We assume that the virus will infect around 50% of the world population; 20% of the cases will be severe, and 1-3% will result in deaths," analysts from the Economist Intelligence Unit said in a note.

As a result of the pandemic, the EIU predicted global growth would stand at just 1% for 2020 down from its outlook of 2.3% before the outbreak began. It would mark the lowest rate in global gross domestic product growth since the global financial crisis, analysts noted.Chloe Taylor

A microscopic view of novel coronavirus.

Ffikretow | Getty Images

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Coronavirus live updates: Layoffs hit restaurants and the worst of the jobs damage could be ahead - CNBC

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