Oil climbed on Wednesday, reversing most of the prior session's losses, as investors pinned hopes on a Thursday meeting where OPEC members and allied producers will discuss output cuts to shore up prices that have tumbled amid the coronavirus pandemic.
The dollar found a footing on Wednesday as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing.
Asian stocks stepped back on Wednesday after two sessions of sharp gains as investors turned wary on getting too optimistic about the coronavirus while death tolls were still mounting across the globe.
Volkswagen Mexico issued a statement saying one of its employees in the country had died in a potential case of coronavirus.
The evaporation of a rally on Wall Street in the closing minutes of Tuesday's session shows that many investors fear the U.S. stock market is in danger of a renewed tumble due to uncertainty surrounding the coronavirus pandemic.
Amazon.com Inc has put on hold a new delivery service that competes with UPS and FedEx, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
Amazon.com Inc is testing the use of disinfectant fog at a warehouse in Staten Island, New York starting on Tuesday, the company told Reuters, following worker protests over the risk of coronavirus infection at the site.
Roughly $70 billion of a $350 billion pot of loans to cover the payrolls of ailing small businesses have been originated by U.S. lenders in recent days, President Donald Trump said on Tuesday, adding that that money was "essentially loaned."
Global airlines warned that 25 million jobs across the world could be at risk from the coronavirus air travel downturn, and held out against offering refunds to passengers as cash runs out.
Honda Motor Co and Nissan Motor Co on Tuesday said they had furloughed thousands of workers at their U.S. operations as the coronavirus pandemic slashes demand for cars in the country.
The Trump administration is aiming to reopen the U.S. economy when the nation's top health experts give the go-ahead, but Americans' lives will be drastically different, White House economic adviser Larry Kudlow said on Tuesday.
The COVID-19 pandemic is expected to wipe out 6.7% of working hours globally in the second quarter of this year, equivalent to the labour of 195 million full-time workers, the International Labour Organization (ILO) said on Tuesday.
Japanese automaker Nissan said on Wednesday its sales in China fell 44.9% from a year earlier to 73,297 units in March, as the coronavirus epidemic continues to hit the world's biggest car market.
Southwest Airlines Co said on Tuesday it would publish this week a new flight schedule for June 6 to June 27 with overall flight activity dropping by about 50% while taking into account "different phases of the recovery anticipated ahead."
Wall Street rose on Tuesday as early signs of a slowdown in coronavirus cases in U.S. hot spots raised hopes that sweeping lockdown measures to contain the outbreak were working.