First case confirmed in New York City, Europe raises risk level

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A person wears a face mask as a precaution against coronavirus in New York, March 2, 2020.

Tayfun Coskun | Anadolu Agency | Getty Images

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All times below are in Eastern time.

  • Total confirmed cases: More than 89,100
  • Total deaths: At least 3,040

8:56 am: Target cancels in-person investor meeting

Target has canceled its in-person analyst and investor meeting in New York City amid concerns about the coronavirus outbreak. The Minneapolis-based retailer’s meeting was scheduled for Tuesday in midtown Manhattan. Instead of holding the event, Target said executives will present fourth-quarter results and answer questions by webcast. In an email, a company spokeswoman attributed the change to “the rapidly evolving situation regarding the coronavirus.” —Repko

8:10 am: San Antonio mayor blasts the CDC for mistakenly releasing quarantined patient

Mayor Ron Nirenberg blasted the the Centers for Disease Control and Prevention for mistakenly releasing a COVID-19  patient who was quarantined near San Antonio, saying it was unacceptable. “We will hold the CDC accountable to providing complete transparency for the public,” Nirenberg said in a statement Sunday. “This situation is exactly why we have been asking for federal officials to accept the guidance of our medical community.”  —Kopecki

7:24 am: Virus spreads to NYC, second death in Washington

7:12 am: Goldman sees the Fed getting even more aggressive in the face of coronavirus scare

The U.S. Federal Reserve is likely to join other global central banks in cutting interest rates aggressively in response to the coronavirus scare, Goldman Sachs economists said Sunday. With fears over a global slowdown intensifying, the Fed likely will announce a 50 basis point cut at its March meeting, if not sooner, the firm said. In all, Goldman sees the Fed cutting 100 basis points this year, which is an increase from just Friday, when it saw a cut of 75 basis points. —Cox

6:55 am: EU coronavirus deaths reach 38, bloc raises risk level to high

A pedestrian wearing a protective face masks walks past the Colosseum in Rome, Italy, on Tuesday, Feb. 25, 2020. Italy appears never far from a recession, and the spread of the coronavirus may just tip it back into the danger zone.

Alessia Pierdomenico | Bloomberg | Getty Images

The president of the European Commission said Monday that the European Union’s disease prevention agency had raised the bloc’s risk level to high, as the coronavirus continues to spread. Ursula von der Leyen told a news conference in Brussels that the European Center for Disease Prevention and Control had raised its risk level up from moderate, with more than 2,100 cases of coronavirus confirmed in 18 of the 27 EU states. EU Health Commissioner Stella Kyriakides confirmed Monday 38 EU citizens had died as a result of the flu-like virus. —Meredith

5:50 am: Iran says infections exceed 1,500, 66 people dead

Iran’s health ministry said Monday that the total number of those infected with the coronavirus had climbed to 1,501, Reuters reported citing state television, with 66 deaths nationwide. Iran is at the epicenter of the outbreak in the Middle East, having recorded the highest number of coronavirus fatalities outside China. —Meredith

5:05 am: India, Iraq, and Iceland all report further cases of coronavirus

Iceland has confirmed three more cases of the coronavirus, with India and Iraq also reporting two additional infections on Monday. Iceland’s Department of Civil Protection and Emergency Management confirmed Monday that three patients had tested positive for the flu-like virus over the weekend. All of them had recently spent time on holiday in northern Italy — the epicenter of Europe’s outbreak. Meanwhile, India reported two further cases of coronavirus, taking the country’s toll to five. One of the new cases was in New Delhi, while the other was in Telangana, the government said. Elsewhere, Iraq’s health ministry said Monday that two people had contracted the flu-like virus, bringing the total number of cases in the country to 21. —Meredith

Tourists wearing masks walk through Union Square in New York City on February 28, 2020, amid fears of the coronavirus and a global pandemic.

Timothy A. Clary | AFP | Getty Images

4 am: Nike temporarily closes European headquarters due to coronavirus case

Nike’s European headquarters in the Netherlands will remain closed Monday and Tuesday after an employee was found to have contracted the coronavirus. “Out of an abundance of caution, we are conducting a deep cleaning of the EHQ campus,” Nike said in a statement to CNBC, confirming it was aware of an employee coronavirus case. “All EHQ buildings and facilities will be closed until Wednesday.” Approximately 2,000 Nike employees from 80 countries are estimated to work at the site. As of Sunday, the World Health Organization had confirmed seven cases of coronavirus in the country, with no deaths. —Meredith

Read CNBC’s coverage from the Asia-Pacific overnight: Seoul mayor sues South Korea church group, Iran cases exceed 1,500

— CNBC’s Noah Higgins-Dunn, Melissa Repko, Sam Meredith, Jeff Coxand Weizhen Tan contributed to this report.

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