Airbus announced it would stop production and assembly activities at its plants in France and Spain for the next four days, as governments there implement new measures to restrict movements and fight the coronavirus outbreak.
Oil and gas companies around the world are planning to slash spending in the face of a plunge in oil prices caused by the spread of the coronavirus and a push by Saudi Arabia and Russia to flood the market with supply.
Tesla Inc Chief Executive Officer Elon Musk sent employees an email on Monday telling them to stay at home if they felt ill or uncomfortable, two people who saw the memo told Reuters.
Asian shares held their ground on Tuesday in a volatile session following one of Wall Street's biggest one-day routs in history as headlines about the coronavirus outbreak and its global economic impact whiplashed investor sentiment.
U.S. electric vehicle maker Tesla Inc plans to operate its Fremont factory on Tuesday, when San Francisco's Bay Area begins a three-week lockdown to rein in the spread of a coronavirus, the Electrek online media said.
The coronavirus shockwaves rippling through U.S. stocks are forcing investors to contemplate outcomes more dire than a recession, including several quarters of declining economic activity, a credit crisis or even a depression.
Oil rose more than $1 on Tuesday as bargain hunters emerged after recent sharp falls due to the coronavirus pandemic and the price war between Saudi Arabia and Russia, but fears of a recession still dragged on the market.
(This March 16 story corrects spelling error in headline and first paragraph)
U.S. gasoline refining margins fell a whopping 95% on Monday - even briefly turning negative - with the cost of gasoline plunging faster than crude oil in anticipation that coronavirus will keep people off the road and in their homes.
Britain has asked manufacturers including Ford , Honda and Rolls Royce to help make health equipment including ventilators to cope with the coronavirus outbreak and will look at using hotels as hospitals.
Chesapeake Energy Corp , the oil and gas exploration and production company that helped spearhead the U.S. shale revolution, has tapped debt restructuring advisers amid a rout in energy prices, people familiar with the matter said on Monday.
There are millions of small and mid-sized businesses in the U.S. with 500 employees or less. If the SBA has $50 billion and makes $1 million emergency loans, it could help 50,000 firms.
Oaktree Capital co-founder Howard Marks said the sell-off has not been a "panic" but it might be time to buy.
Wall Street suffered its biggest drop since the coronavirus crisis began, with the S&P 500 closing at the lowest level since December 2018 as investors fear the coronavirus pandemic is proving a tougher opponent than central banks, lawmakers or the White House are capable of battling.
Amazon.com Inc said on Monday it would hire 100,000 warehouse and delivery workers in the United States to tackle a surge in online orders, as consumers shop heavily fearing the spread of the coronavirus outbreak.