
The first known death of a child due to COVID-19 in the United States was a teenager in previously good health, Los Angeles Mayor Eric Garcetti said on Tuesday.

South Korea said it will send medical equipment to the United States to fight the coronavirus if it has any spare after an urgent request from US President Donald Trump in which he promised to help Korean firms gain US government approval.

President Donald Trump announced on Tuesday he wants to loosen the coronavirus lockdown in the United States and restart the economy within three weeks, calling social distancing measures too disruptive.

Treasury Secretary Steven Mnuchin on Wednesday vowed that unemployment would not reach 20%, seeking to clarify comments he made a day earlier on a worst-case economic scenario resulting from the coronavirus pandemic.

U.S. oil prices reached their lowest point since 2003 on Wednesday as the coronavirus has reduced demand in countries around the world. The prices fell for a third session, with U.S. crude Clc1 reaching US$ 25.06 per barrel, the lowest prices since late April 2003. As of 11:35 GMT, U.S. crude Clc1 hit US$1.51 cents or 5.6 percent at US$ 25.44 per barrel.

Brazilian Foreign Trade Secretary Marcos Troyjo, who was part of the Brazilian delegation that recently visited Florida, has tested positive for the coronavirus, his office said in a statement on Monday.

President Donald Trump urged Americans on Monday to halt most social activities for 15 days and not congregate in groups larger than 10 people in a newly aggressive effort to reduce the spread of the coronavirus in the United States.

The US has cut interest rates to almost zero and launched a US$ 700bn stimulus program in a bid to protect the economy from the effect of coronavirus. It is part of a coordinated action announced on Sunday in the UK, Japan, the Eurozone, Canada, and Switzerland.

The U.S. House of Representatives overwhelmingly passed a coronavirus aid package early on Saturday that would provide free testing and paid sick leave, in a bid to limit the economic damage from a pandemic that has shuttered schools, sports arenas, and offices.

Global stock markets crashed on Friday, ending a years-long bull run, with coronavirus panic selling hitting almost every asset class and leaving investors nowhere to hide. Half a trillion dollars in liquidity from the U.S. Federal Reserve and the promise of more were not enough to calm the fear that has wiped some US$14 trillion from world stocks in a month.