Rolling updates on the latest developments and headlines from around the world on the COVID-19 pandemic.
By Gina Lee, Peter Nurse and Kim Khan
11:28 AM ET: GOP reportedly looking to give small business more time on loans
GOP whip Sen. John Thune “says Senate trying to pass bill today giving small business more time to spend their Paycheck Protection Program money. Would require agreement by all senators to pass quickly,” Politico reported.
10:00 AM ET: U.S. existing home sales plunge in April
The National Association of Realtors said existing home sales plunged 17.8% to a seasonally adjusted annual rate of 4.33 million units last month. The percentage decline was the largest since July 2010.
09:56 AM ET: South Africa Reserve Bank cuts its interest rate to 3.75%
The South African Reserve Bank cut its benchmark interest rate for the fourth time in four months in a bid to support an economy forecast to slump deeper…