Disease outbreaks have led to longer market declines and rebounds that are less sharp as compared with crises that are brought on by natural disasters, according to Credit Suisse.
Asian equities markets rallied on Tuesday as investors bet the U.S Federal Reserve's promise of unlimited dollar funding would ease painful strains in financial markets even if it could not stop the economic hit of the coronavirus epidemic.
The dollar slipped for a second consecutive day on Tuesday after the U.S. Federal Reserve unveiled fresh measures to supply precious liquidity into funding markets, sending risky currencies such as the Australian dollar soaring.
Britain's biggest sportswear retailer JD Sports said on Tuesday it has delayed the publication of its financial results to May and has enough cash resources to ride out the coronavirus crisis.
Norwegian Air has fulfilled the first condition to access a government-led rescue package for the airline industry and secured an initial cash infusion of 300 million Norwegian crowns ($26.6 million), the budget carrier said on Tuesday.
Oil prices rose around 4% on Tuesday on hopes that the United States will soon reach a deal on a $2 trillion coronavirus aid package that could blunt the economic impact of the outbreak and in turn support oil demand.
The shock from coronavirus to banks is set to be greater but less prolonged than lenders faced in last year's stress test and the financial system remains resilient, the Bank of England said on Tuesday.
Oil jumped 5% on Tuesday to above $28 a barrel, supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid package.
Ryanair on Tuesday said it does not expect to operate flights in April or May and has offered its aircraft to European governments for rescue or the essential movement of medicines and personal protective equipment.
The Trump administration is moving ahead with oil and gas lease sales in four Western states beginning on Tuesday, bucking criticism from taxpayer advocates who say the auctions should be postponed because of a meltdown in energy prices.
Tesla bought hospital ventilators in China and shipped them to the United States, CEO Elon Musk said on Tuesday.
U.S. President Donald Trump's desire to rapidly reopen the economy despite signs the coronavirus is still spreading may backfire, with higher deaths and citizens remaining fearful of going out, some investors said.
Volkswagen will suspend its car production in Russia over a supply shortage caused by the coronavirus outbreak in Europe, Volkswagen Group Rus said on Tuesday.
S&P 500 futures hit their daily upper trading limit on Tuesday, rebounding from another brutal session caused by investor panic over the rapidly spreading coronavirus.
Global equities rebounded almost 2% on Tuesday, off near four-year lows, and the dollar slipped as investors pinned hopes on unprecedented stimulus steps by the U.S Federal Reserve and other policymakers to ease strains in financial markets.