Global cases top 3.6 million, Trump says more deaths inevitable

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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.

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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