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The novel coronavirus has caused a "global shock" and significant economic pain "seems unavoidable in all countries," the World Bank said in an economic update for
East Asia and the Pacific on Monday.
The big picture: COVID-19 cases surged past 786,000 and the death toll exceeded 37,800 early Tuesday, per Johns Hopkins data. Italy reported more than 11,500 deaths.
The U.S. death toll from the novel coronavirus surpassed 3,000 late Monday.
The state of play: There were more than 164,000 confirmed cases in the U.S. early Tuesday — more than any other country in the world, per Johns Hopkins data. The COVID-19 death toll stood at 3,170. The number of recoveries had risen to more than 5,900.