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 3.5 million
- Global deaths: More than 251,000
- Most cases reported: United States (over 1.17 million), Spain (over 218,000), Italy (over 211,900), United Kingdom (over 191,800), France (over 169,500)
The data above was compiled by Johns Hopkins University as of 7:46 a.m. Beijing time.
All times below are in Beijing time.
9:05 am: Containment efforts cost Australia’s economy $ 2.6 billion per week
Australia’s efforts to contain the coronavirus are expected to cost the economy 4 billion Australian dollars ($ 2.6 billion) a week, according to excerpts of Treasurer Josh Frydenberg’s prepared remarks reported by Reuters. Frydenberg is scheduled to speak at the National Press Club of Australia later Tuesday.
Like many other countries, Australia has implemented movement restrictions and distancing measures to limit the spread of the coronavirus. But those protocols have dampened economic activity.
Australia has reported 6,825 confirmed cases and 95 deaths from Covid-19, as of Monday. —Christine Wang
8:46 am: Officials weigh potential human toll of reopening economies
7:52 am: China reports a single new confirmed case, 15 asymptomatic cases
China’s National Health Commission said there was one new confirmed case of infection and attributed it to a traveler from overseas. No new deaths were reported but there were 15 asymptomatic cases.
Cumulatively, China has reported 82,881 confirmed cases and 4,633 deaths.
Travelers walk to the exit of the Hankou Railway Station in Wuhan in central China’s Hubei province Wednesday, April 08, 2020, after 76 days of lockdown of the city due to Covid-19.
Barcroft Media | Getty Images
7:48 am: Global death toll exceeds 251,000
More than 251,000 people around the world have died from Covid-19, the disease caused by the coronavirus, according to data from Johns Hopkins University.
The virus was first reported in China’s Hubei province late last year and has rapidly spread around the world since then, infecting more than 3.5 million people.
The United States has the highest number of cases — over 1.17 million people have been affected and more than 68,000 have died.
Countries like Spain, Italy, the United Kingdom, France and Germany are also among some of the worst-affected nations. — Saheli Roy Choudhury
All times below are in Eastern time.
7:02 pm: New projection shows about 135,000 US deaths from Covid-19 by August with lockdown measures being lifted
The Institute for Health Metrics and Evaluation (IHME) estimates nearly 135,000 coronavirus deaths in the US through the beginning of August, citing the easing of lockdown orders as the main driver of the new number, Reuters reports.
The forecast from the IHME puts the U.S. death toll through early August at 134,475, the midrange between 95,092 and 242,890.
People receive protective masks and bandannas as they are handed out in Prospect Park as face coverings become mandatory in many establishments on May 03, 2020 in the Brooklyn borough of New York City.
Spencer Platt | Getty Images
The new projections reflect reopening measures underway across the country and the increase of social contact between people that will increase transmission, the IHME said, according to Reuters.
“This new model is the basis for the sobering new estimate of U.S. deaths,” IHME Director Christopher Murray said about the reopening measures, Reuters reported. — Chris Eudaily
5:12 pm: Economists say the way out of the recession depends on the level of consumer fear
Economists are looking for new ways to measure a rebound from a deep recession, suggesting that the recovery will depend on individual psychology, overall consumer confidence, and also whether the government was successful enough in filling the income gap for the workers who lost their jobs.
“It’s much more behavioral. It’s not just driven by incomes. It’s driven by fear,” said Diane Swonk, chief economist at Grant Thornton. Economists have been looking to China as an example, since the disease started there. “Even a month after they reopened in Wuhan, people are still worried about going to public places and malls.” — Patti Domm
Read CNBC’s coverage from the U.S. overnight: Projection estimates 135,000 US deaths by August; testing expanded for Fujifilm flu drug