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The dollar stood tall on Friday as investors scrambled for the world's most liquid currency amid deepening panic about the coronavirus while the euro nursed losses after the European Central Bank disappointed by not cutting rates.

The fallout from the coronavirus spread across the Pacific on Friday, with travel companies in Australia and New Zealand issuing profit warnings as U.S. airlines rushed to cut flights to Europe in the wake of new U.S. travel restrictions.

Global stock markets crashed on Friday, ending a years-long bull run, with coronavirus panic selling hitting almost every asset class and leaving investors nowhere to hide.

China's Wuhan city, ground zero of the new coronavirus outbreak, reported five new cases on Friday, the second day in a row the tally has been less than 10, while no locally transmitted infections were reported in the rest of the country.

South Korea reported more recoveries from the coronavirus than new infections on Friday for the first time since its outbreak emerged in January, as a downward trend in daily cases raised hopes that Asia's biggest epidemic outside China may be slowing.

Governments and central banks readied more emergency measures to tackle the economic impacts of the coronavirus on Friday as Asian markets suffered their worst weekly crashes since the 2008 financial crisis.

As trading ended on Thursday in Wall Street's worst day for three decades, shell-shocked investors had no idea how much further the market was likely to fall as the coronavirus pandemic spread fear of a global recession.

Transport Canada said on Thursday it is revising a deal that would have reduced technical work done by the Canadian regulator when validating Federal Aviation Administration (FAA) certified aircraft like the Boeing 737 MAX.

Airlines on Thursday appealed for urgent government financial support as U.S. carriers rushed to cut flights to Europe in the wake of new U.S. travel restrictions aimed at combating the coronavirus outbreak, while United Airlines warned of U.S. travel disruption as the virus spreads domestically.

The dollar stood tall on Friday as investors scrambled for the world's most liquid currency amid deepening panic about the coronavirus while the euro nursed losses after the European Central Bank disappointed investors by not cutting rates.

The U.S. Trade Representative's office said it granted on Thursday exclusions from import tariffs for some medical products imported from China, including face masks, stethoscope covers and blood pressure cuff sleeves.

Apple Inc is reopening all 42 of its branded stores in China on Friday, a company spokesman said, more than a month after they were shut in the wake of the coronavirus outbreak.

Asia's stock markets crashed on Friday as panic gripping world financial markets deepened, and even haven assets such as gold and bonds were ditched to cover losses in the wipeout.

Oil prices fell on Friday for a third day, with Brent crude set for its biggest weekly drop since 1991 and U.S. crude heading for the worst week since 2008 as panic about plunging demand from the coronavirus outbreak grips the market.