Happening Today: Coronavirus, Payroll Tax Cut Proposal, 5 Democratic Primaries, Stocks Steady

Here's what to know for Tuesday, March 10

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Coronavirus Latest in Tri-State

New York's coronavirus caseload has tripled in a matter of days, with a New York City airport agency official and an emergency medical services worker among those infected. The Port Authority of New York and New Jersey said Monday that executive director Rick Cotton has no symptoms and is working from home quarantine. Meanwhile, a New York City fire department union said an EMS worker in Brooklyn has tested positive and is quarantined. Most cases are linked to a cluster in suburban Westchester County. 

Trump Plans Payroll Tax Relief in Response to Coronavirus

President Donald Trump says his administration will ask Congress to pass payroll tax relief and other quick measures as a public health and economic maelstrom brought on by the coronavirus drew closer to him personally. Trump said he would hold a press conference Tuesday to outline the proposals, saying his administration and Congress would be "discussing a possible payroll tax cut or relief, substantial relief, very substantial relief, that’s big, that’s a big number. We’re also going to be talking about hourly wage earners getting help so that they can be in a position where they’re not going to ever miss a paycheck.”

Michigan Primary Could Make or Break Sanders’ Campaign

Bernie Sanders proved his 2016 presidential bid was serious with an upset victory in Michigan powered by his opposition to free trade and appeal among working-class voters. Four years later, the same state could either revive the Vermont senator's campaign or relegate him to the role of protest candidate. Michigan and five other states hold presidential contests on Tuesday at a critical point in the Democratic race. Former Vice President Joe Biden is looking to quash Sanders' hopes and cement his own front-runner status just a week after resurrecting his beleaguered White House bid with a delegate victory on Super Tuesday.

Stocks Steady After Plunge on Virus, Oil Crash

Global stock markets rebounded Tuesday from record-setting declines after President Donald Trump said he would ask Congress for a tax cut and other measures to ease the pain of the spreading coronavirus outbreak. Oil prices also recovered some of their losses in Monday's record-setting plunge. London opened 1.8% higher and Frankfurt advanced 1%. China's main stock index rose 1.8% and Tokyo closed up 0.9%. On Wall Street, which suffered its biggest one-day drop since the 2008 global crisis on Monday, futures for the benchmark S&P 500 index picked up 3.9% and the contract for the Dow Jones Industrial Average rose 3.8%.

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