Wall Street's three major stock indexes tumbled on Monday as investors looked for safety on intensifying fears about the global economic impact of the coronavirus after a surge in cases outside China fanned worries about a pandemic.
United Airlines Inc on Monday withdrew its full-year 2020 forecast citing the impact of the coronavirus outbreak and said it was seeing an about 100% decline in near-term demand to China.
The S&P 500 and the Dow Jones Industrial Average on Monday suffered their biggest one-day percentage losses in two years after a surge in coronavirus cases outside China fanned worries about the global economic impact of a potential pandemic.
Teck Resources Ltd's surprise decision to cancel a planned C$20.6 billion ($15.6 billion) oil sands mine in northern Alberta, citing uncertainty about Canada's climate policy, underscores a global struggle to balance energy growth with environmental concerns.
U.S. government officials are still considering ways to further curb sales to China's Huawei Technologies [HWT.UL], despite President Donald Trump's tweets and comments last week in support of sales to China, according to people familiar with the matter.
"You just don't want to be in the cross hairs of what I regard as being anything that's made in China or anything travel," CNBC's Jim Cramer said.
The major averages slid more than 3% on Monday, but if history is any indication, Tuesday could bring a relief rally.
Stocks across the globe fell by the most since mid-2016 on Monday and oil prices tumbled as a jump in coronavirus cases outside of China drove investors to the perceived safety of gold and government bonds on fears of the impact on the global economy.
Centennial Resource Development Inc said on Monday shale pioneer and Chief Executive Officer Mark Papa would retire at the end of May.
United Airlines Inc on Monday withdrew its full-year 2020 guidance, citing heightened uncertainty over how the duration and spread of the coronavirus to other regions could impact overall air travel demand.
Mastercard Inc said on Monday its net revenue in the first quarter will take a hit of between 2% and 3% over its previous forecast if the coronavirus outbreak persists through the quarter.
Asian share markets were heading south on Tuesday amid fears the coronavirus was rapidly mutating into a pandemic that could cripple global supply chains and wreak far greater economic damage than first thought.
The National Transportation Safety Board will hold a public hearing on Tuesday to establish the probable cause of a fatal March 2018 Tesla Autopilot crash in California and will issue a series of safety recommendations, two people briefed on the matter said on Monday.
Europe's top companies need to more than double their current level of spending on low-carbon projects to meet the European Commission's flagship goal of 'climate neutrality' by 2050, according to a report released on Tuesday.
Investment banks including Citigroup Inc , Credit Suisse and Nomura Holdings Inc have curbed trips to Italy on fears that the coronavirus outbreak across the north of the country could quickly spread across Europe, four sources told Reuters.