A masked commuter in New York. The number of coronavirus infections globally grew to more than 3.2 million—with about a third of those in the U.S.
Photo: Vanessa Carvalho/Zuma PressFresh signs of the economic fallout from the coronavirus pandemic emerged in Europe and Asia after the U.S. reported the biggest drop in quarterly economic output since 2008.
France’s economy experienced its deepest contraction on record in the first three months of the year. And while factories are resuming production in China, manufacturers have grown pessimistic about export demand.
World-wide, the number of coronavirus infections grew to more than 3.2 million—with about a third of those in the U.S.—and the death toll exceeded 227,000, according to data from Johns Hopkins University. Total U.S. cases rose to 1.04 million, with nearly 61,000 dead, according to Johns Hopkins.
The Latest on the Coronavirus
- Johns Hopkins: U.S. cases pass one million; deaths top 60,000.
- Johns Hopkins: World-wide cases pass 3.2 million; deaths top 227,000.
- Florida Gov. Ron DeSantis laid out a gradual reopening plan that will begin Monday.
President Trump was asked Wednesday whether he envisioned a “new normal” once the pandemic had passed, perhaps one in which hospitality workers regularly wore masks. “I see the new normal being what it was three months ago,” he said. “I think we want to go back to where it was.”
Florida Gov. Ron DeSantis laid out a gradual reopening plan that will begin Monday, with restaurants and retail stores operating at 25% of indoor capacity. The plan excludes Miami-Dade, Broward and Palm Beach counties, which are still reeling from the virus.
Data from Georgia, Oklahoma and South Carolina, states that started easing restrictions on nonessential businesses last weekend, show people came out in trickles rather than droves, as they sought clothes, entertainment and travel.
Global stocks started higher Thursday following the lead of the U.S., where news from Gilead Sciences Inc. that a clinical trial evaluating its drug remdesivir in coronavirus patients had concluded with a positive result helped lift shares. But European shares and S&P 500 futures were wavering ahead of some economic releases that will give more information on the depth of the devastation caused by lockdowns.
As quarterly earnings trickle out in the U.S., some large technology companies, including Microsoft Corp. and Facebook Inc., are showing resilience during the pandemic. With billions of people homebound, these tech firms are seeing a surge in users and an increase in time spent on social networking, videogames and online shopping.
Microsoft’s sales and net profit both rose beyond analysts’ expectations in the first three months of the year. Its cloud-computing business saw a 59% increase, as more customers were working from home in the quarter.
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- confirmed cases in the U.S.
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- total deaths in the U.S.
Facebook appears to be gaining from billions of users being locked inside for much of the spring, with the company’s suite of social networking and messaging apps keeping people in touch. Advertisers, in turn, are returning to the platform after a steep drop in ad sales in March, the company said.
Other industries haven’t weathered the health crisis as well. Companies tied to aviation have been particularly hard hit as travel demand has collapsed since the pandemic began.
Boeing Co. plans to cut 10% of its workforce, while Airbus SE said it would curb jetliner production initially by a third. General Electric Co., meanwhile, said it would trim $2 billion in costs as its aviation business sustained losses.
In other places around the world, the number of infections continued to wane. Hong Kong reported no new cases Thursday—the fifth consecutive day without any new infections. For the first time since the pandemic began, South Korea reported no new local infections, and four new imported cases. China also reported four new imported cases, according to the National Health Commission.
Many countries and regions in Asia were beginning a long weekend as people ventured out after many governments eased restrictions on movement.
In China, where a five-day holiday begins on Friday, the government encouraged the public to stay near their homes and avoid destinations that still have coronavirus cases. The Palace Museum at the Forbidden City in Beijing has set a cap of 5,000 visitors a day, a fraction of its usual capacity. Tickets to the end of the holidays have already sold out, according to the museum.
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Write to Wenxin Fan at Wenxin.Fan@wsj.com
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