Wednesday Coronavirus Update: IMF Says World Is in Recession, UN's Call to Action

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There are now over 870,000 cases of the virus worldwide, 

The U.S. has over 189,000 of those cases, Italy has over 105,000 cases and Spain has crossed the 100,000 case mark, with over 102,000 cases.

And there are over 43,000 deaths worldwide. 

Watch the video above for more.

Video Transcript:

Good morning, it’s Wednesday, April 1.

There are over 870,000 cases of the coronavirus worldwide, with over 43,000 deaths.

The U.S. has over 189,000 of those cases, Italy has over 105,000 cases and Spain has crossed the 100,000 case mark, with over 102,000 cases.

The International Monetary Fund announced that the world has entered a recession, which is as bad as--if not worse than 2009. The IMF says that they only expect a recovery in 2021 if the world can successfully contain the coronavirus.

And the United Nations put out a report saying that we are facing a global health crisis unlike “any other” in the 75-year history of the United Nations.

“But this is much more than a health crisis. It is a human crisis. The coronavirus disease (COVID-19) is attacking societies at their core,” the UN said in the report.

The UN said that this crisis is global, and called on everyone to come together to fight COVID-19. They noted that “it is in everyone’s interest” to help developing countries in handling the virus, or it could really damage the global economy.

Now, focusing specifically on the U.S., President Trump warned Tuesday night that the U.S. is in for a “very painful” two weeks ahead.

The death toll from the virus in the U.S. has surpassed 4,000, with 1,000 of those deaths in New York alone.

The White House said that the death toll from the virus could claim the lives of 100,000 to 240,000 Americans.

We’ll keep you updated on TheStreet.com

Jim Cramer and I will be breaking down the latest live at 10:30 am. You can watch us live on TheStreet.com or find us on Facebook or Twitter @TheStreet.

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