Global cases top 3.6 million, Trump says more deaths inevitable

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. Global cases: More than 3.65 million Global deaths: More than 256,800 Most cases reported: United States (over 1.2 million), Spain (over 219,300), Italy (over 213,000), United […]

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks.

  • Global cases: More than 3.65 million
  • Global deaths: More than 256,800
  • Most cases reported: United States (over 1.2 million), Spain (over 219,300), Italy (over 213,000), United Kingdom (over 196,200), France (over 170,600)

The data above was compiled by Johns Hopkins University as of 8:25 a.m. Beijing time. 

All times below are in Beijing time.

10:08 am: The pandemic has pummeled global travel – 5 charts show how

While all sectors are feeling the effects of a drastic slowdown in global economic activities, the travel and tourism industries are struggling with a multitude of challenges. Lockdown measures have kept people at home during some of the peak seasons for traveling, shelving travel plans globally.

Since the outbreak, more than 200 countries and territories have enacted measures to restrict and deter travel in an attempt to limit the spread of the virus, according to a report by the United Nations World Tourism Organization.

Those measures include border closures, flight suspensions, and mandatory quarantine requirements. That has caused some airlines and hotels to run into financial difficulties, and millions of people to lose their jobs.

See the rest of the charts here. — Yen Nee Lee, Saheli Roy Choudhury

9:16 am: China reports 2 new cases, no additional deaths

China’s National Health Commission attributed the two new confirmed cases to travelers from overseas and said another 20 people were asymptomatic. No new deaths were reported. 

In total, China reported 82,883 confirmed cases and 4,633 deaths. The virus was first reported in Wuhan, a city in the Hubei province, late last year before it spread rapidly. — Saheli Roy Choudhury

8:20 am: Trump says ‘there’ll be more death’ from coronavirus

U.S. President Donald Trump acknowledged that reopening parts of the country would inevitably cost some Americans their lives. But he argued that the benefits outweighed the costs.

“It’s possible there will be some [deaths] because you won’t be locked into an apartment or house or whatever it is,” Trump told ABC’s David Muir in a rare network news interview. “But at the same time, we’re going to practice social distancing, we’re going to be washing hands, we’re going to be doing a lot of the things that we’ve learned to do over the last period of time.”

Donald Trump speaks as he departs the White House, on May 5, 2020, in Washington, DC en route to Arizona, where he will tour a mask factory and hold a roundtable on Native American issues.

Jim Watson | AFP | Getty Images

As of Tuesday, U.S. deaths had climbed above 70,000, with total cases over 1.2 million.

“There’ll be more death, that the virus will pass, with or without a vaccine. And I think we’re doing very well on the vaccines but, with or without a vaccine, it’s going to pass, and we’re going to be back to normal,” Trump said. — Christina Wilkie

8:18 am: Argentina secures $4 billion loan from the Development Bank of Latin America

Argentina has secured $4 billion from the Development Bank of Latin America to finance efforts tackling the economic impact of the disease outbreak, Reuters reported. 

The funds will be distributed over four years, Reuters said, adding that the bank expects to invest $900 million in Argentina this year. 

Hopkins data showed infection cases in the South American country are above 4,800 and at least 262 people are dead. — Saheli Roy Choudhury

8:11 am: Indian banks are anticipating more bad loans and that could delay economy recovery

India has been in a national lockdown since late-March that has now been extended twice. With economic activity drastically lowered, there is a growing fear that daily wage earners and small business owners may not have the financial strength to weather the lockdown — there’s anticipation that they may default on their loans

One expert told CNBC that banks and non-bank lenders are going to be more cautious from now on about whom they lend money to. If people who need loans are unable to get them, it could potentially delay India’s economic recovery from the coronavirus crisis. — Saheli Roy Choudhury

8:04 am: Global infection cases over 3.6 million

More than 3.65 million people across the globe have now been infected and over 256,800 people have lost their lives, according to data from Johns Hopkins University. In fact, some countries are saying their daily case numbers are not slowing down

The United States is the worst-affected nation where the death toll has crossed 71,000 with over 1.2 million confirmed cases thus far, Hopkins data showed. 

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