Emergency declared in California as cruise ship delayed off shore

Here's the latest on the coronavirus outbreak.
Image: The Grand Princess cruise ship passes the Golden Gate Bridge as it arrives from Hawaii in San Francisco
The Grand Princess cruise ship passes the Golden Gate Bridge as it arrives from Hawaii in San Francisco on Feb. 11, 2020.Scott Strazzante / AP file

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California has declared an emergency over the coronavirus outbreak, as tests continue Thursday on board a Princess cruise ship that has been linked to two cases of the illness in the state.

The first death in California related to coronavirus was confirmed Wednesday, while another fatality in Washington brought that state's death toll to 10.

Congressional leaders have agreed on an $8 billion emergency funding package to help fight the coronavirus that is headed to the House.

The virus is now spreading more rapidly outside China, where the epidemic started, with mainland China recording just 119 new confirmed cases while hundreds of cases were reported globally.

South Korea alone recorded an additional 516 cases of coronavirus Wednesday, bringing the total to 5,328 confirmed cases, the largest outbreak outside of mainland China.

Governments around the world are introducing a range of measures to stop the spread of the disease. In Italy, where there have been more than 2,000 cases, all schools and colleges are shut for 10 days.

Full coverage of the coronavirus outbreak

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The new coronavirus hasn't mutated much — what does that tell scientists?

Scientists working to contain the spread of the new coronavirus have noticed something curious about the newly identified pathogen — it hasn't mutated much.

Genetic analyses have shown that the coronavirus has not undergone many significant changes since it first emerged in China in December, according to Timothy Sheahan, an epidemiologist at the University of North Carolina’s Gillings School of Global Public Health.

It's an important detail because that stability suggests why the new coronavirus is effective at moving from person to person.

“Viruses are into efficiency, and if you have a virus that spills over into the human population and isn’t that good at replicating in a person or human-to-human transmission, it may just die out,” he said.

Health officials go into detective mode after new California case

A California patient who appears to be America's first case of a coronavirus transmission of unknown origin has prompted two major questions: How was she exposed to the virus, and who else might have it?

California public health officials on Thursday said they are trying to find those answers through contact tracing, a process that entails tracking down anyone in recent weeks who might have had contact with the patient, a woman whose identity they are not revealing.

Dr. Sonia Angell, director of the state's Department of Public Health, said at a news conference that since Wednesday — when the test came back positive for the coronavirus — local, state and federal health officials have been "contacting any individuals who might have been exposed, and they're isolating them."

Read more about how health officials are working to track down the source of the infection.

Dow plunges nearly 1,200 points as coronavirus fears send markets diving

Wall Street suffered brutal losses on Thursday, with the Dow Jones Industrial Average swinging wildly through more than 1,000 points before closing with a loss of 1,200 points for the worst week since the financial crisis.

The Dow has now lost more than 3,200 points this week, or 10 percent, including a decline of 1,031 points on Tuesday and 879 points on Wednesday.

The S&P 500 fell by 4.4 percent and the Nasdaq Composite was down by around 4.6 percent. Transport-related stocks, tech stocks, and the energy sector all took the heaviest hits, as fears spread that the coronavirus epidemic would strangle global movement.

Read more here.

U.S. could see some empty shelves by mid-April if coronavirus epidemic worsens

Coronavirus has the potential to become a global pandemic, temporarily emptying retail store shelves in the coming months and depressing some consumer-facing businesses, experts say, with government officials advising families to take measured steps to stock up on certain essentials.

A pandemic is the rapid spread of an infectious disease to a large amount of people in a short period of time across international boundaries.

Ahead of any pandemic, the U.S. Department of Homeland Security says families should check their prescription drug supplies, store two weeks supply of water and food, and have non-prescription drugs and health supplies on hand, including pain relievers, cough and cold medicines, and fluids with electrolytes.

Read the full story here.

U.S. companies will see zero growth this year because of coronavirus, Goldman Sachs says

Earnings growth for U.S. companies will be stagnant in 2020 as a result of the coronavirus, according to Goldman Sachs.

The Wall Street firm revised its earnings estimate for the year to $165 per share from $174 per share, representing 0 percent growth in 2020. That is a dramatic move from the consensus. Forecasts still expect earnings to climb 7 percent this year.

Read the full story here.

Tim Cook says some China factories reopening

Apple CEO Tim Cook said Thursday he is “optimistic” about China’s handling of the coronavirus epidemic, noting that his company has ramped up production as factories in the country have come back online.

"It feels to me that China is getting the coronavirus under control," Cook told Fox Business Network in an interview from Alabama, his home state. "You look at the numbers, they're coming down day by day by day. And so I'm very optimistic there."

"When you look at the parts that are done in China, we have reopened factories, so the factories were able to work through the conditions to open, they're reopening," Cook said. "They're also in ramp. So I think of this as sort of the third phase in getting back to normal, and we're in phase three of the ramp mode."

Apple warned last week that it would not meet its guidance for the next quarter due to the epidemic. The trillion-dollar company has seen billions wiped off its value since the outbreak of the virus. Twenty percent of Apple’s iPhone sales come from China, and 50 percent of the product build happens there.

Facebook has canceled its yearly F8 developer conference, one of the company's signature events.

“This was a tough call to make -- F8 is an incredibly important event for Facebook and it’s one of our favorite ways to celebrate all of you from around the world -- but we need to prioritize the health and safety of our developer partners, employees and everyone who helps put F8 on,” Facebook's director of platform partnerships, Konstantinos Papamiltiadis, wrote in a blog post.

Papamiltiadis wrote that the company is planning to host a series of local events and livestreams in place of the event.

Sen. McConnell eyes getting funding package through Congress in next two weeks

Senate Majority Leader Mitch McConnell, R-KY, applauded the Trump administration’s response to the coronavirus, saying, “There seems to be little question that COVID-19 will eventually cause some degree of disruption here.” 

And McConnell criticized Minority Leader Chuck Schumer, D-NY, for criticizing the funding request by President Trump, calling it “a strange and clumsy effort to override normal, bipartisan appropriations talks before they even happen and replace them with top-down partisan posturing.”

McConnell said that the bipartisan leaders of the House and Senate Appropriations Committees are working on a funding package in response to the WH request, and is hoping to pass it through Congress in the next two weeks.