Amazon (NASDAQ:AMZN) told
employees in Seattle to avoid coming into their offices for the rest of
the month after an employee tested positive and Washington state
emerged as one of the hardest hit by the coronavirus.
Facebook (NASDAQ:FB) also confirmed that a contractor at at its Seattle office was been diagnosed with the disease and it would close that location until March 9.
Hours after the first coronavirus death was reported outside Washington state – an elderly person in California – CA Governor Gavin Newsom declared a statewide emergency.
New York Governor Cuomo confirmed five new cases, saying, “This is literally like trying to stop air.”
The U.S. House passed
a bill allocating more than $8B in emergency funds to combat the spread
of the deadly virus, including $3B in vaccine research and $2.2B in
prevention and preparedness efforts. The IMF also announced a $50B aid package to combat the disease and called for an all-out offensive to counteract the epidemic.
Visa (NYSE:V) is cutting costs and American Express (NYSE:AXP)
reported a material slowdown in Asia travel spending as the coronavirus
starts taking a bite out of revenue at the two companies. Mastercard
(NYSE:MA)
is deciding whether to implement expense cuts, but doesn’t have enough
clarity yet on the severity and duration of the problem.
Vice President Mike Pence plans to meet with face mask maker 3M (NYSE:MMM) in Minneapolis today to discuss supply chain issues.
https://seekingalpha.com/news/3548859-coronavirus-updates
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