Coronavirus live updates: China death toll tops 1,000 - CNBC

This is a live blog. Please check back for updates.

All times below are in Beijing time.

8:30 am: Australia's Cochlear slashes guidance, says it expects a decline in Greater China sales due to coronavirus outbreak

Hearing implants maker Cochlear said Tuesday it is reducing its outlook for fiscal year 2020 due to the outbreak's impact in the Greater China region, one of the main markets for the company. It slashed underlying net profit for the year from 290 million - 300 million Australian dollars (about $194 million-200 million) to A$270 million - 290 million.

Hospitals are "currently deferring surgeries, including cochlear implants, to limit the risk of infection from the coronavirus," the company said in a filing with the Australian Securities Exchange. CEO Dig Howitt said the company's guidance factors in a "significant decline in sales" for the China region in the second half. Australia's fiscal year starts on Jul. 1 and ends next June. 30.

Cochlear said it assumed there will not be any "material disruption" to the supply chain, including importing components from China.

8:17 am: China reports additional 108 deaths and 2,478 confirmed new cases

China's National Health Commission said there were 2,478 confirmed new cases in the mainland and 108 additional deaths, most of them in Hubei province. As of Monday night, the government said a total of 42,638 cases have been confirmed and 1,016 people have died in the country.

7:07 am: Hubei reports an additional 103 deaths

China's Hubei province reported an additional 103 deaths and 2,097 new confirmed cases related to the deadly pneumonia-like coronavirus as of the end of Monday.

According to the Hubei Provincial Health Committee, 974 people have died in the province, with most of them in the city of Wuhan where the virus was first detected. There have been a total of 31,728 confirmed cases thus far in the province.

All times below are in Eastern time.

4:48 pm: Coronavirus is a 'black swan' for oil and energy markets

The coronavirus is a "true black swan" for the oil and energy market, and as crude prices continue to move lower the worst may not be over yet, Ned David Research said in a note to clients. Analyst Warren Pies noted that the outbreak has reduced Chinese demand for oil by 2 million to 3 million barrels per day, which means "the oil market is looking down the barrel at no demand growth for the calendar year, and outright demand contraction is now on the table." — Stevens

4:40 pm: XPO Logistics watches for virus impact

XPO Logistics operates 8 million square feet of warehouse space in Asia, including more than 1 million square feet in China alone. However, CEO Bradley Jacobs said the coronavirus outbreak and travel restrictions haven't dampened demand for logistics yet. "We have not seen a noticeable impact as of now," Jacobs said, "We are watching it. Anything that slows down the global economy is not good for the transport and logistics industry." — Holland

Read CNBC's coverage from the U.S. overnight: China's death toll exceeds 1,000, US GDP takes a hit

— CNBC's Pippa Stevens and Frank Holland contributed to this report.

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Coronavirus live updates: China death toll tops 1,000 - CNBC
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