Wall Street fell more than 3% on Friday, following the S&P 500 and the Dow's best three-day run in nearly a century, as fears about the economic damage from the coronavirus pandemic returned to the forefront.
E-commerce companies including Amazon and Flipkart are facing disruption in India just three days into a lockdown to fight the coronavirus pandemic, despite government assurances they would not, sources familiar with the matter said on Friday.
Oil prices fell on Friday as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world and the United States faced the prospect of becoming the next global epicenter of the pandemic.
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Investors rushed into cash and out of bonds at a record pace over the past week as the coronavirus pandemic caused mayhem in markets, BofA said on Friday, though it noted a key positioning signal at "maximum bearish" could signal a big rally ahead.
Dallas Fed President Robert Kaplan on Friday said small businesses can expect to be able to borrow money backstopped by the Fed "very quickly" under a new program the U.S. central bank is readying to bolster firms hurt by the coronavirus epidemic.
Leading British fashion chain Next has bowed to pressure from workers worried about their health and shut its online business, cutting off its remaining source of revenue during the coronavirus outbreak.
U.S. consumer spending rose moderately in February and momentum is set to fade rapidly in the coming months, with the coronavirus pandemic upending life for Americans.
Alitalia's administrator has asked Italy's government to raise to nearly 7,000 the number of its employees under a temporary lay-off scheme, with most of its aircraft standing idle during the coronavirus outbreak.
European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact.
Banks should halt 2020 dividend payments to preserve capital and keep lending to businesses and households until the impact of the coronavirus epidemic is clearer, the European Banking Federation (EBF) said.
Volkswagen may have to cut jobs if the coronavirus pandemic is not brought under control as the carmaker is still spending about 2 billion euros ($2.2 billion) a week, Chief Executive Herbert Diess told German TV channel ZDF.
Britain's Royal Mail on Friday became the latest company to say the coronavirus had delayed plans for a radical turnaround and also canceled its dividend and suspended financial forecasts for the next year.
India's government had assured e-commerce companies that their operations would not be disrupted amid a nationwide lockdown to fight the coronavirus, but most are facing crippling disruptions after just three days, sources familiar with the matter said on Friday.
ViacomCBS Inc said on Friday it would withdraw its forecast for the year due to the impact from the ongoing coronavirus pandemic.