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Wall Street plunges as coronavirus outbreak slams bank, travel stocks

The Dow Jones Industrial Average fell 969.17 points, or 3.58%, to 26,121.69

Apple supplier Foxconn's revenue hammered by coronavirus outbreak

The Taiwanese firm, which assembles Apple's iPhones, saw revenue sink 18.1% in February compared with a year earlier - the biggest monthly fall since March 2013 and the third straight month of decline

Coronavirus scare: OPEC backs biggest oil production cut since 2008 crisis

Russia and Kazakhstan, both members of the broader and informal group known as OPEC+, said they had not yet agreed to a deeper cut

Alibaba Group to offer $144 million in subsidies as shopping suffers

Alibaba's announcement comes as the e-commerce giant wrestles with depressed consumer spending in China

Wall Street opens 2% lower as Coronavirus hits California, airline stocks

The benchmark index, however, is still about 7.5% below its record close on Feb. 19 and fears about the economic fallout remain at the forefront of investors' minds

Oil rises more than 1% on smaller-than-expected rise in crude stocks

Brent crude rose by 78 cents, or 1.5%, to $51.91 per barrel by 0202 GMT

Gold gains on coronavirus risks, but rise in equity market caps gains

The dollar recovered following recent declines, finding support from robust jobs data from the United States on Wednesday

More than rhetroic needed to reignite Malaysian palm oil exports to India

Malaysian supplies of palm oil to India have slowed to a trickle since Delhi adopted a hardline stance after Mahathir criticised actions in Kashmir in September

Gold prices little changed as strong equities counter coronavirus fears

There are signs the epidemic has begun to weigh on business sentiment in the United States

After slashing rates, US Fed has more options to fight coronavirus effect

Officials will also be looking for any sign of real change on the horizon, in terms of slower growth or higher unemployment, he said

OPEC struggles to get Russian backing for oil cut amid coronavirus crisis

A panel of several ministers from OPEC, Russia and other producers failed to clinch a preliminary agreement for additional cuts, OPEC sources said

Taxmen threaten to stall work in protest if working conditions don't change

Corporation and income tax collection for the current year is likely to fall for the first time in at least two decades

Microsoft's Silicon Valley staff to work from home amid coronavirus fears

Microsoft asked many of its employees in the Seattle region near its headquarters and the San Francisco Bay Area to work from home if possible until March 25

Coronavirus: India tries to revive economy by pushing banks to lend more

Lenders have been asked to focus particularly on 10 states in northeast and central India, regions where less credit has been made available than elsewhere

Mike Bloomberg exits US elections after primaries rout, endorses Biden

Bloomberg's only victory on Tuesday came in the US territory of American Samoa

Chinese scientists say two types of coronavirus could be infecting people

The preliminary study found that a more aggressive strain of the new coronavirus associated with the outbreak in Wuhan accounted for about 70% of analysed cases

US businesses show growing concern over impact of coronavirus, Fed survey

The Fed cut interest rates by a half percentage point on Tuesday in an emergency move to mitigate the possible economic effects of the flu-like illness on the world's largest economy

Coronavirus scare wipes out hopes for faster growth in 2020: IMF chief

Georgieva and World Bank President David Malpass underscored the importance of coordinated action to limit the economic and human impact of the virus.

Feb unemployment rate hits 4-month high of 7.78% as slowdown persists: CMIE

In rural areas, the unemployment rate increased to 7.37% in February from 5.97% in the previous month

China factory output at its worst ever as COVID-19 hurts economy: PMI

The findings, which focus mostly on small and export-oriented businesses, were backed by an equally grim official survey released on Saturday, which showed the steepest contraction on record