This is a live blog. Please check back for updates.
All times below are in Beijing time.
- Global cases: More than 720,100
- Global deaths: At least 33,925
- Top 5 countries: United States (139,675), Italy (97,689), China (82,122), Spain (80,031) and Germany (62,095)
The data above was compiled by Johns Hopkins University as of 7:50 a.m. Beijing time.
10:58 am: Dow set for an opening drop, Asian stocks mostly lower
10:15 am: South Korea reports 78 new cases, six additional deaths
There were 78 new cases of infection in South Korea, bringing the country’s total to 9,661, according to the latest figures from the Korea Centers for Disease Control and Prevention. Another six people died and total fatalities from the virus stood at 158.
South Korea is said to be planning emergency measures to help millions of low-income households. (See 7:42 a.m. update) — Saheli Roy Choudhury
9:25 am: Japanese comedian Ken Shimura dies from coronavirus
Iconic Japanese comedian Ken Shimura, 70, died on Sunday night, according to a report from NHK.
Shimura was infected with the coronavirus and was being treated for pneumonia at a Tokyo hospital, NHK said.
Japan has more than 1,800 cases of infection, according to data from Johns Hopkins University. At least 54 people have died so far in the country and more than 400 have recovered. — Saheli Roy Choudhury
9:10 am: Singapore’s central bank eases policy as city-state braces for recession
The Monetary Authority of Singapore eased its monetary policy on Monday and said that the coronavirus pandemic has led to a severe contraction in economic activity globally due to supply chain disruptions, travel restrictions and a sudden decline in demand. MAS said the Singapore economy will enter a recession this year, with GDP projected to contract between 1% to 4%.
“MAS will adopt a zero percent per annum rate of appreciation of the policy band starting at the prevailing level of the S$NEER,” the central bank said in a statement, referring to the exchange rate between the Singapore dollar and a basket of currencies belonging to the country’s major trading partners.
“There will be no change to the width of the policy band. This policy decision hence affirms the present level of the S$NEER, as well as the width and zero percent appreciation slope of the policy band going forward, thus providing stability to the trade-weighted exchange rate,” the statement added.
Singapore reported more than 800 cases to-date, including three deaths. The number of cases rose exponentially in March as many residents returned from abroad and tested positive for COVID-19. — Saheli Roy Choudhury
8:22 am: China says it has 31 new confirmed cases, most of them ‘imported’
China’s National Health Commission said there were 31 new confirmed cases of the virus reported on the mainland, of which 30 were “imported” cases from abroad. Four new deaths were also reported, all of them occurring in the Hubei province, where the virus was first detected.
About 75,700 people are said to have recovered to-date from the virus in China and 3,304 people have died, according to Monday’s reported numbers. — Saheli Roy Choudhury
7:42 am: South Korea considering financial support for 10 million households
South Korea is considering providing financial support to 10 million lower-income households as part of emergency measures to tackle the coronavirus outbreak, Yonhap reported on Sunday. The plan would provide a four-member household, whose income falls below the median income, with a one-time lump sum of up to 1 million Korean won ($820), Yonhap said, adding the proposal is set to be discussed at an emergency economic council meeting.
Travelers wearing protective masks and suits walk through Incheon International Airport in Incheon, South Korea, on Monday, March 9, 2020.
SeongJoon Cho | Bloomberg | Getty Images
South Korea has more than 9,500 reported cases to-date, but mass testing and rigorous quarantine measures appear to have slowed down the virus outbreak from last month. — Saheli Roy Choudhury
7:36 am: Global cases surpass 700,000
The total number of coronavirus infection cases globally has crossed 700,000, according to data compiled by Johns Hopkins University. As of 7:36 a.m. on March 30, there were at least 720,117 reported cases of COVID-19, the disease caused by the virus, and 33,881 deaths. The United States had the highest tally of infections at more than 139,600 while Italy’s numbers were over 97,600.
About 149,076 people have recovered, JHU data showed; more than 75,500 of them in China. — Saheli Roy Choudhury
All times below are in Eastern time.
6:55 pm: Consolidating flights to US cities could help stem airline industry losses
U.S. airlines and the Department of Transportation may soon have to consider consolidating service to dozens of cities around the country in a bid to help carriers cut losses, several airline industry executives told CNBC.
Executives with U.S. airlines are expected to meet with leaders of the Transportation Department this week to discuss the state of the industry following approval of a $50 billion bailout package. The aid package requires airlines to not furlough employees for the next six months, while also maintaining service, to the best of their ability, to the cities the airlines currently serve. The problem with maintaining service is that many planes are virtually empty. — Phil LeBeau, Meghan Reeder
6:14 pm: President Trump extends national social distancing guidelines through April 30
President Donald Trump on Sunday extended the national social distancing guidelines to April 30 after suggesting that the coronavirus death rate would likely peak in two weeks.
“Nothing would be worse than declaring victory before the victory has been won,” Trump said at an evening press briefing. “Therefore we will be extending our guidelines to April 30.”
The president has previously said he wants to reopen the country for business by Easter, on April 12, despite warnings from public health experts that doing so would result in more deaths. — Emma Newburger
Read CNBC’s coverage from the U.S. overnight: Trump accuses hospitals of hoarding ventilators, field hospital set up inside Central Park