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The dollar rose against the yen on Tuesday amid fiscal year-end demand by Japanese companies and the Chinese yuan stood firm after a survey showed manufacturing returned to growth in March.

World stocks looked set to close their worst quarter since 2008 on a brighter note on Tuesday, as strong Chinese factory data held out hope for an economic revival even as much of the rest of the world shut down to fight the coronavirus.

The dollar rose against the yen on Tuesday as Japanese investors and companies rushed to cover a greenback shortage before their fiscal year end, but sentiment remained fragile as the global coronavirus crisis worsened.

Global mergers and acquisitions activity plunged 28% in the first quarter to its lowest level since 2016 as the devastating economic effects of the coronavirus pandemic took hold in March, compounding a slow start to the year for dealmakers.

WPP , the world's biggest advertising company, said it was pulling its dividend and share buyback, and withdrawing its guidance for 2020 after it saw an increasing number of cancelations from clients due to the coronavirus crisis.

Factory activity in China unexpectedly expanded in March from a collapse the month before, but analysts caution that a durable near-term recovery is far from assured as the global coronavirus crisis knocks foreign demand and threatens a steep economic slump.

Oil recovered ground on Tuesday after U.S. President Donald Trump and Russian President Vladimir Putin agreed to talks to stabilize energy markets, with benchmarks climbing off 18-year lows hit as the coronavirus outbreak cut fuel demand worldwide.

Amazon.com Inc is at the front line of responding to outbreaks of the novel coronavirus in the United States, delivering essential goods while more than half the population faces government stay-at-home orders.

Airlines must suggest possible compensation in return for government cash assistance and agree to conditions that include not cutting pay or laying off employees through Sept. 30, the U.S. Treasury Department said in guidelines issued on Monday as it prepares to quickly hand out $25 billion.

Global equity benchmarks rose on Monday despite a drop in oil prices to their lowest levels since 2002, as central banks and the United States tried to contain damage from the rapidly spreading coronavirus that has upended the global economy.

"As dramatic as this has been, I do believe that the economy will recover steadily," Fink says.

Airlines must suggest possible compensation in return for government cash assistance and agree to conditions that include not cutting pay or laying off employees through Sept. 30, the U.S. Treasury Department said in guidelines issued on Monday as it prepares to quickly hand out $25 billion.

Oil recovered some ground on Tuesday as U.S. President Donald Trump and Russian President Vladimir Putin agreed to discuss stabilizing energy markets, but prices remain near 18-year lows as the coronavirus shutdown destroys demand.

U.S. Trade Representative Robert Lighthizer on Monday said the United States would seek to promote more domestic manufacturing of key medical supplies in light of the strategic vulnerabilities laid bare by the coronavirus pandemic.

Amazon.com Inc's Fulfillment by Amazon (FBA) service will waive two weeks of storage fees in March, according to an email seen by Reuters.