More and more government officials are taking a break or resetting their efforts to reopen the economy as the corona virus spreads to new communities and gains speed in many parts of the US government in Arizona. Doug Ducey was the youngest official to reverse the reopening in his state late Monday after weeks of increasing cases. On Tuesday, Dr. Anthony Fauci and other senior health officials testify before lawmakers about the status of the outbreak.
This is CNBC's live blog with the latest news about the coronavirus outbreak. This blog will be updated later in the day once the news is released.
Global Cases: Over 10.3 million Global Deaths: At least US $ 505,518. Cases: More than 2.59 million US. Deaths: At least 126,141
The above data has been compiled by Johns Hopkins University.
Stocks open flat as Wall Street closes its best quarter in decades
9:35 a.m. ET – Shares opened flat as the key averages are heading for the biggest quarterly earnings in years, report CNBC's Fred Imbert and Maggie Fitzgerald. The Dow Jones Industrial Average fell 52 points, or 0.2%. The S & P 500 and the Nasdaq Composite both hovered around the flatline.
Both the Dow and the S & P 500 achieved the best quarterly performance since 1998, each with more than 16%. In the meantime, the Nasdaq Composite grew by 28.2% quarter-on-quarter and recorded the largest quarterly growth since 2001. —Melodie Warner
New cases in the US are increasing
According to Goldman Sachs, the national mask mandate could save the economy from a 5% hit
9:02 AM ET – Goldman Sachs informed its customers that a nationwide face mask mandate could both lower the daily growth rate of new confirmed cases of Covid-19 and save the US economy from a 5% GDP hit instead of additional locks suffer.
Jan Hatzius, Goldman's chief economist, said a national mask mandate could increase the percentage of people wearing masks by 15 percentage points, and found that the rule could replace barriers that would deduct nearly 5% of GDP growth. – Thomas Franck
An increase in nationalism could lead to an even more deadly pandemic, Professor warns
8:22 am ET – An increase in nationalism and inward-looking politics could lead to yet another more deadly pandemic in the future, said Ian Goldin, professor of globalization and development at Oxford University.
Goldin, who previously served as a consultant to Nelson Mandela and is a former World Bank vice president, told CNBC that the world will face a number of risks, including an even bigger pandemic that will be more financial if the coronavirus crisis increases Protectionism results in crises and "Cold War 2.0".
"We're facing a choice," he said. "Either the pandemic teaches us to be more global in politics, to stop the next pandemic, to work together, to restore global growth, or we are becoming more national, in which case we are in a downward spiral."
Goldin has been predicting a pandemic for several years and warns in his 2014 book The Butterfly Defect and a 2018 BBC series that an outbreak would be the most likely cause of the next global economic crisis. – Chloe Taylor
Boris Johnson from Great Britain promises to "build, build, build" and announces an investment boost
Prime Minister Boris Johnson speaks during a daily briefing on the outbreak of coronavirus disease (COVID-19) at 10 Downing Street in London, Britain, on June 3, 2020.
Andrew Parsons | 10 Downing St | via Reuters
7:34 am ET – Prime Minister Boris Johnson has announced a public investment program that the government hopes will help the UK economy recover from the coronavirus crisis.
"We cannot just continue to be prisoners of the crisis," said Johnson when he announced £ 5 billion ($ 6.15 billion) of government spending on various public infrastructure projects ranging from hospitals to streets to schools. "We have to work fast because we have already seen the dizzying decline in GDP (gross domestic product)."
Johnson promised "build, build, build" and announced plans to increase government spending on infrastructure and cut red tape in construction and development. He compared his plan to former US President Franklin D. Roosevelt's "New Deal" program for public works in the 1930s. –Holly Ellyatt
Fauci, other health officials to testify in Congress
The director of the National Institute of Allergy and Infectious Diseases, Dr. Anthony Fauci, wearing a face mask, waits to testify before the House's Energy and Trade Committee on the Trump Administration's response to the COVID-19 pandemic on Capitol Hill in Washington, DC, U.S. June 23 2020.
Kevin Dietsch | Reuters
7:13 am ET – The White House Health Advisor, Dr. Anthony Fauci is scheduled to testify to members of Congress on Tuesday at 10:00 AM ET.
Dr. comes to Fauci Robert Redfield, director of the Centers for Disease Control and Prevention, and Admiral Brett Giroir, Deputy Minister of Health in the Department of Health and Human Services. Dr. Stephen Hahn, the commissioner of the Food and Drug Administration, is also said to testify.
The hearing, an "update on progress toward safe return to work and school," will be held by the Senate Health and Education Committee.
All four of the planned officers gave a full-day hearing to members of the House a week ago when the officers reviewed the US response to the pandemic so far and warned of a difficult fall season. – Want fire
Read CNBC's previous live coverage of coronaviruses here: New flu strain found in China; The WHO warns: "The worst is yet to come."