Fears about the rapidly spreading coronavirus and its impact on the global economy, which deepened on Monday with the collapse of oil prices, have evaporated over $5 trillion of the S&P 500's market value in recent weeks.
Ethiopian investigators singled out faulty systems on a Boeing 737 MAX plane in an interim report on last year's Ethiopian Airlines crash that killed 157 people, piling pressure on the U.S. jetmaker on the eve of the disaster's anniversary.
Shares of U.S. banks sharply underperformed the broader stock market on Monday as investors bet tumbling interest rates would crush bank profits and worried about rising credit costs in the face of an economy spooked by coronavirus and plunging oil prices.
Aon Plc said on Monday it would buy Willis Towers Watson Plc for nearly $30 billion, in an all-stock deal which will make it the world's biggest insurance broker and give it more pricing power, but also attract regulatory scrutiny.
"I feel better about the banks than I do any oil company," CNBC's Jim Cramer said Monday.
The U.S. Consumer Financial Protection Bureau (CFPB) said on Monday it charged Fifth Third Bank, National Association, for creating fake client deposit and credit-card accounts and transferring clients' funds to those accounts without consent, citing an abuse of fair lending and savings laws.
The United States on Monday accused "state actors" for manipulating global oil markets, saying their actions contributed to a big drop in oil prices but adding that American energy suppliers were well placed to withstand the volatility.
While no U.S. airlines have requested a bailout to date, the head of Hawaiian Airline said on Monday that it was difficult to predict what would happen in the weeks and months ahead for the industry as travelers cancel flights amid coronavirus uncertainty.
A U.S. regulatory body on Monday said it would temporarily waive some of its rules in order to allow thousands of traders to operate from home as the coronavirus spreads in New York.
Fears about the rapidly spreading coronavirus and its impact on the global economy, which deepened on Monday with the collapse of oil prices, have evaporated over $5 trillion of the S&P 500's market value in recent weeks.
The Maldives has curbed movement on several resort islands, authorities said on Sunday, after the country reported its first two cases of coronavirus.
Shares of Saudi state oil company Aramco fell below their initial public offering (IPO) price on Sunday for the first time since they began trading in December after the OPEC oil supply cut pact with Russia fell apart on Friday.
IKEA, the world's biggest furniture brand, is reopening nine of its stores in China this weekend, a company spokeswoman said.
The words "bear market" and "recession" are being used with increasing frequency as investors try to assess how badly the coronavirus outbreak will damage global growth and to what extent it could further weigh on asset prices.
Brazilian and U.S. governments signed on Sunday an agreement for development of defense projects that may give the South American country access to financing.