Coronavirus live updates: Dow futures drop 1,000 points, Trump suspends travel from Europe

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• Global cases: At least 118,381, according to the latest figures from the World Health Organization
• Global deaths: At least 4,292, according to the latest figures from the WHO
• US cases: At least 1,312, according to data compiled by Johns Hopkins University.

All times below are in Beijing time.

The U.S. State Department issued an advisory on its website advising citizens to “reconsider travel abroad due to the global impact of COVID-19.”

“Many areas throughout the world are now experiencing COVID-19 outbreaks and taking action that may limit traveler mobility, including quarantines and border restrictions,” the notice said.

“Even countries, jurisdictions, or areas where cases have not been reported may restrict travel without notice,” it added.

The advisory came after U.S. President Donald Trump announced a 30-day ban on travelers to America from Europe starting Friday midnight. (See 9:06 am entry) — Lee

Malaysian authorities are trying to track down 5,000 citizens who may have been exposed to the new coronavirus at a religious event in the outskirts of capital Kuala Lumpur, Reuters reported on Wednesday.

A 53-year-old man from neighboring Brunei, who had attended the event, was confirmed on Tuesday to have been infected by the virus, according to the report. That’s Brunei’s first reported infection, the report said. The religious event took place at a mosque between Feb. 27 and Mar. 1, according to Reuters. 

Malaysia has reported 149 confirmed coronavirus cases as of Wednesday, of which 26 have been discharged from hospitals, said the country’s health ministry. — Lee

Beijing’s municipal government announced late Wednesday a plan for subsidizing some workers’ daily living expenses as Beijing is not allowing people from Hubei province — the epicenter of the new coronavirus — to return to the Chinese capital city.

Beijing-based businesses must provide individual support of at least 3,080 yuan a month ($440) for employees stranded in Hubei and are unable to work, the municipal government said. It noted that figure is double the city’s standard for basic monthly living expenses. The plan is effective this month and will last until the restrictions on travel from Hubei to Beijing are lifted, according to the policy.

Businesses contributing to the government’s social insurance plan can apply for subsidies to cover half of the payout, or 1,540 yuan ($221 per worker, the policy said. — Cheng

A staff member in Senator Maria Cantwell’s office in Washington, D.C., has tested positive for the new coronavirus. It is said to be the first confirmed case of infection on Capitol Hill. The individual has been in isolation since starting to show symptoms. The office has been closed for deep cleaning and the affected individual has had no known contact with the senator or other members of Congress, according to a statement. – Wilkie

The tech company told its 4,900 global employees to work from home. The move is mandatory as Twitter said it has a “responsibility to support our communities, and those who are vulnerable.” It added that it will continue to pay contractors and hourly workers who are not able to perform their duties while working from home. – Farr

U.S. futures indicated sharp declines on Wall Street again after an address from President Trump failed to ease investor worries over the global pandemic. Dow futures were down 1,067 points, indicating a loss of about 1,027 points at Thursday’s open. S&P 500 and Nasdaq 100 futures were also sharply lower. The move comes after the Dow Jones Industrial Average ended its historic 11-year bull market run by closing in a bear market. – Imbert, Roy Choudhury

India’s health ministry said a high-level group of ministers met on Wednesday and decided on the following:

• Most existing visas will be suspended until Apr. 15 from Friday 1200 GMT at the port of departure. Exemptions include diplomatic and official visas as well as employment visas. 
• Visa-free travel for foreigners of Indian origin will also be suspended till Apr. 15. 
• Any foreign national intending to travel to India has to contact the nearest embassy. 
• Incoming visitors, including Indian nationals, who arrive or have visited China, Italy, Iran, South Korea, France, Spain, and Germany after Feb. 15 will be quarantined for at least 14 days. 

On Tuesday, the chief minister of the state of Manipur said on Twitter that India has closed its border with Myanmar as “precautionary measures.” Manipur shares border with Myanmar. – Roy Choudhury

Correction: This blog entry has been updated to reflect that India will suspend most existing visas from Friday 1200 GMT.

The NBA said it is “suspending game play following the conclusion of tonight’s schedule of games until further notice.” The decision came after a player on the Utah Jazz was said to have preliminarily tested positive for COVID-19 before a Wednesday night game between the Jazz and Oklahoma City Thunder. That game is now canceled and the affected player was not in the arena, according to the NBA. It also said that it will use the hiatus to figure out the next steps for moving forward. – Roy Choudhury

The Korea Centers for Disease Control and Prevention said as of Thursday morning, there were 114 new cases and six additional deaths, bringing the country’s total number of infected to 7,869 and fatalities to 66. A majority of the new confirmed cases were reported in the city of Daegu, where the infection rate spiked in recent weeks. – Roy Choudhury

President Donald Trump said all travel from Europe to the U.S. will be suspended for 30 days, and that the new rules are going into effect on Friday midnight. “These restrictions will be adjusted subject to conditions on the ground,” Trump said, adding that those measures would not apply to the United Kingdom. He also said that the U.S. is monitoring the situation in China and South Korea and that it may reevaluate restrictions and warnings currently in place about those countries if their situation improves. – Roy Choudhury

China’s National Health Commission said there were 15 new confirmed cases on Mar. 11, with 8 of them in Hubei province — where the disease was first detected. Six of the new cases were attributed to travelers returning from abroad. All but one of the 11 additional deaths were reported in Hubei. 

Altogether, the total number of confirmed cases to-date in mainland China stands at 80,793 — among them, 62,793 cases have been cured and 3,169 people have died. – Roy Choudhury

Italy’s health ministry said as of 6 p.m. local time on Mar. 11, there were a total of 12,462 cases, including 1,045 people who have recovered and 827 who have died. The country is in a complete lockdown at the moment, with most non-essential businesses, including bars and restaurants, closed. Prime Minister Giuseppe Conte earlier this week told people to “stay at home.” Outside China, Italy is the worst-affected country. – Roy Choudhury

Prime Minister Scott Morrison unveiled a 17.6 billion Australian dollar ($11.4 billion) stimulus package to tackle the economic impact of the global pandemic by keeping people employed and helping small and medium-sized companies stay in business.

Morrison said up to 6.5 million individuals and 3.5 million businesses would be directly supported by the measures. That includes a one-off 750 Australian dollar payment to pensioners and other income support recipients as well as providing cash flow assistance to businesses. The government is setting aside 1 billion Australian dollars to support sectors, regions, and communities that have been disproportionately affected, including those that rely heavily on tourism, agriculture, and education. 

“This plan is about keeping Australians in jobs. This plan is about keeping a business in business, particularly small and medium-sized businesses. This plan is about ensuring the Australian economy bounces back stronger on the other side of, and with that, the budget bounces back with it,” Morrison told reporters.

A day earlier, Morrison had announced a health package worth 2.4 billion Australian dollars to fight the virus. – Roy Choudhury

The U.S. travel and tourism industry could lose at least $24 billion in foreign spending this year because of the rapidly spreading coronavirus, according to data produced by Tourism Economics and first seen by CNBC. That would be equivalent to about seven times more than the industry lost during the SARS outbreak in 2003, according to the data. The figures also imply 8.2 million lost visitors in one year, which would be even more than the 7.7 million international travelers lost in 2001 and 2002, after the 9/11 terrorist attacks. – Hirsch

All times below are in Eastern time.

Italy’s premier says all stores except pharmacies and grocery stores are being closed nationwide in response to the country’s coronavirus outbreak.

Premier Giuseppe Conte thanked the public for cooperating with the already unprecedented travel and social restrictions that took effect Tuesday.

But he said Wednesday night on Facebook Live that Italy must “go another step″ by closing all shops and businesses except for food stores, pharmacies and other shops selling ″essential″ items.

The tighter restrictions on daily life are the government’s latest effort to respond to the fast-moving crisis that took Italy’s number of cases from three to 12,462 in less than three weeks. – The Associated Press

Dr. Brian Monahan, the attending physician of Congress and the U.S. Supreme Court, said he expects 70 million to 150 million people in the United States will become infected with COVID-19, NBC News reported, citing two sources.

Monahan made the comments to Senate staff during a closed-door meeting Tuesday afternoon, according to NBC News. The meeting did not include senators and was for administrative office staff and personnel from both parties, NBC News reported. – Lovelace

Read CNBC’s coverage from the U.S. overnight: Trump meets with Wall Street execs, March Madness closed to fans

— The Associated Press and CNBC’s Evelyn Cheng, Christina Farr, Christina Wilkie, Fred Imbert, Sarah Whitten, Lauren Hirsch and Berkeley Lovelace Jr. contributed to this report.