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 4.4 million
- Global deaths: 302,025
- Most cases reported: United States (over 1.4 million), Russia (252,245), United Kingdom (234,439), Spain (229,540), Italy (223,096)
The data above was compiled by Johns Hopkins University as of 8:45 a.m. Beijing time.
All times below are in Beijing time.
8:45 am: International Olympic Committee sets aside $800 million for loans, payments linked to pandemic
The 2020 Tokyo Olympics had been postponed due to the pandemic, saddling organizers and authorities in Japan with extra costs which are estimated to run into billions of dollars, according to an Associated Press report.
The IOC said it has set aside $800 million for payments and loans linked to the pandemic, the report said.
“We anticipate that we will have to bear costs of up to $800 million for our part of the responsibilities for the organization of the games,” International Olympic Committee president Thomas Bach said, according to AP. — Weizhen Tan
8:30 am: Brazil reports daily record high of more than 13,000 cases
Brazil, the hardest hit country in Latin America, reported a daily record high of 13,944 new cases, bringing its total to 202,918 cases, according to Reuters.
That new high comes as President Jair Bolsonaro pushed for lockdowns to be lifted in the financial center of Sao Paulo to soften the economic damage caused by restrictions. Sao Paulo Governor Joao Doria said he would not comply with the president’s decree, however, the report said. — Weizhen Tan
Passengers wearing protective masks at Estacao da Luz, central region of the city of Sao Paulo, Brazil, on May 11, 2020.
8:15 am: U.S. April retail sales expected to drop by record amount as Americans stayed home
Americans shopped online and for groceries in April, avoiding many nonessential items as they stayed home during state shutdowns.
Economists expect that drove April retail sales down 12%, the steepest decline since the data series began in 1992. March’s decline was 8.7%, reflecting the impact of shutdowns in the second half of the month. The retail sales number is an important read on the consumer, which accounts for about 70% of the economy. — Patti Domm
8:00 am: China reports 4 new cases, no deaths
China’s National Health Commission reported four new cases, all of which were locally transmitted infections. That brings its total to 82,933 confirmed cases.
There were no new deaths, with fatalities staying at 4,633, according to the NHC. There were 11 new asymptomatic cases, where patients do not display symptoms of the disease. In all, 619 asymptomatic cases were under medical observation. — Weizhen Tan
Read CNBC’s coverage from the U.S. overnight: Nascar to return to Georgia in June without fans, New Jersey beaches to reopen