5m ago / 1:47 PM UTC
Dow soars by 1,300 points on hopes economic stimulus bill will finally pass
Wall Street rallied Tuesday on hopes lawmakers are nearing a deal on the $2 trillion stimulus package to help American workers and businesses survive the coronavirus outbreak.
The Dow Jones Industrial Average surged by 1,300 points, after hitting its 5 percent “limit up” threshold in premarket trading. The S&P 500 and the Nasdaq both notched up gains of around 5 percent at the opening bell.
“I think we’re very hopeful that this can be closed out tomorrow,” Treasury Secretary Steven Mnuchin told reporters late Monday on Capitol Hill after emerging from negotiations with Senate Minority Leader Chuck Schumer, D-N.Y.
45m ago / 1:07 PM UTC
France enters two-month state of emergency
France will be under a state of health emergency for two months, the French government announced Tuesday.
The new emergency law, passed by the Senate and the Parliament last week, gives the government special powers to enforce the lockdown, which first began two weeks ago.
Local officials will determine in each city if a curfew is necessary, Prime Minister Edouard Philippe said. Health officials said France has confirmed 19,856 cases of coronavirus, more than 2,000 of which are in intensive care, and 860 have died.
The tighter measures rolled out Monday night by Philippe allow residents to leave their homes for only one hour to do only essential tasks, and for physical exercise within 0.6 miles of their residence. They will also need to mark the time they leave home on a special form they need to carry when venturing outside.
Ahiza García-Hodges and Yuliya Talmazan
55m ago / 12:57 PM UTC
Tokyo 2020 Olympics postponed
The Tokyo 2020 Olympics have been postponed, Japan’s Prime Minister Shinzo Abe announced Tuesday.
Abe said Japan and the International Olympic Committee came to an agreement during a phone call with the head of the IOC, Thomas Bach, following growing calls for the games to be delayed or canceled because of the concerns around coronavirus pandemic.
The Japanese leader said they have agreed that the games would not be canceled and will be held by the summer of 2021, his office said on Twitter.
The Olympics was set to run from July 24 through Aug. 9, and the Paralympics from Aug. 25 to Sept. 6.
39m ago / 1:13 PM UTC
Spanish doctor warns situation in hospitals likely to become ‘unsustainable’
A doctor in Spain has warned that unless the number of new coronavirus infections decreases, the situation in Madrid’s hospitals will be “almost unsustainable” in a few days.
“One of the worst shifts I can remember,” Miguel Guirao, 27, a Spanish anesthesiologist, wrote on Twitter, posting a photo of his face marked with red lines from his protective mask after a 19-hour shift. “And they said it was like the flu.”
Guirao told NBC News that staff at the Hospital Universitario La Paz where he works have “literally just enough” personal protective equipment, but not enough ventilators for patients.
Doctors need to decide which patients can be admitted to their critical care units, taking into account medical history and prognosis. “There is even an age limit: Above it, you do not enter, because there isn’t a bed for everyone,” explained Guirao.
Madrid has been the city worst affected by the pandemic in Spain, with a total of 10,575 cases and 1,263 deaths reported in the capital so far, according to officials on Tuesday.
1h ago / 12:42 PM UTC
FEMA to use Defense Production Act for test kits, chief says
FEMA Administrator Peter Gaynor said Tuesday that his agency planned to use its authorities under the Defense Production Act “to get our hands on” coronavirus test kits.
“We’re going to use it for about 60,000 test kits, and so we’re really going to use the allocation portion of the DPA, and again many different levers and options in that,” he said in an interview on CNN.
Gaynor said that they were also going to insert “DPA language” into contracts for 500 million masks.
President Donald Trump has come under fire in recent days for not using the powers of the DPA to authorize the mass production of critical supplies.
1h ago / 12:42 PM UTC
‘Fine line’ to balance economy, public health, White House official says
The White House coronavirus response coordinator on Tuesday suggested that “there’s a fine line” between balancing the economic needs of Americans and the fight against the pandemic.
Dr. Deborah Birx in an interview on “TODAY” on Tuesday responded to questions about President Donald Trump’s assertion at a press conference Monday that the shutdown of many businesses around the country would last weeks, not months. “America will again and soon be open for business,” he said.
Birx said officials are carefully evaluating data, including from Italy where after two weeks of a national lockdown the number of deaths has begun to decline.
The question is, Birx said, “Can we be laser-focused rather than generic across the country” in the fight against the spread of virus?
54m ago / 12:58 PM UTC
‘This is only the beginning,’ says New York City mayor
New York City Mayor Bill de Blasio warned that “April will be much worse than March” as coronavirus spreads through the city. New York now accounts for 35 percent of all cases across the United States, he said in an appearance on NY1.
“This is only the beginning of a much bigger crisis. I take no joy in saying that, but April will be much worse than March, and I fear that May will be worse than April. We are just beginning on a very difficult road,” he said, according to the remarks released by his office.
There are more than 13,000 confirmed coronavirus cases in New York City and 125 people have died, according to city statistics. A state-wide lockdown took effect Monday as authorities rushed to set up thousands of hospital beds.
De Blasio, who has criticized President Donald Trump’s response to the outbreak, said on Monday that he had “hopeful” conversations with the White House and had seen some “movement” on getting protective gear and medical support.
2h ago / 11:51 AM UTC
Most of India under lockdown as prime minister set to address nation
Police enforced lockdowns across large parts of India on Tuesday, with curfews in place in some areas, as domestic air travel was set to end at midnight.
Prime Minister Narendra Modi prepared to address the nation on Tuesday for a second time in a week on the risks that coronavirus poses to the country of 1.3 billion people.
India has already severed international flight links and Indian states have imposed their own lockdowns, suspending train and bus services and ordering traffic off the roads. Health officials have warned that the coronavirus is spreading out of big cities where it first appeared and into smaller towns.
The Associated Press
2h ago / 11:45 AM UTC
Egypt announces 2-week, night-time curfew
DUBAI, United Arab Emirates — Egypt has announced a two-week, 7 p.m. to 6 a.m. curfew for its over 100 million people to slow the spread of the new coronavirus.
Prime Minister Moustafa Madbouly told a news conference on Tuesday that the 11-hour curfew would go into effect Wednesday across the country and last for two weeks. He says all kinds of transportation will be halted during the curfew.
Egypt, the Arab World most populous country, has 366 confirmed cases and 21 fatalities, including two senior military officers.