Coronavirus concerns prompted organizers on Sunday to cancel the CERAWeek energy conference that annually brings together oil ministers and senior executives from the energy and financial industries, the latest event to be scrapped as the disease spreads.
Trump administration officials on Sunday tried to calm market panic that the coronavirus could cause a global recession, saying the public had over-reacted and that stocks would bounce back due to the underlying strength of the U.S. economy.
United Airlines Chief Executive Oscar Munoz told employees the U.S. airline would likely need to cut additional flights in the wake of sagging demand because of the coronavirus outbreak, the airline confirmed on Sunday.
"More cases are showing up in the U.S. and seem likely to be just the start," Ed Hyman said. "Scope, severity, and duration are uncertain."
Canadian authorities on Sunday reached a tentative deal with an indigenous group in the Pacific province of British Columbia that could end solidarity protests across Canada that have been blocking rail lines and roads for weeks.
American Airlines Group Inc said on Sunday it was waiving change fees on all newly purchased tickets amid declining air travel demand because of the new coronavirus outbreak.
U.S. stock index futures tumbled as trading reopened on Sunday night with investors still unnerved by the coronavirus and taking little solace from weekend comments by U.S. officials that aimed to soothe panic about a pandemic.
With fears over a global slowdown intensifying, the Fed likely will announce a 50 basis point cut at its March meeting, if not sooner, the firm said.
The implied yield on U.S. 10-Year Treasury futures traded below 1% for the first time, as investors grew increasingly unnerved by the spread of coronavirus.
Goldman Sachs economists on Sunday predicted the U.S. Federal Reserve will cut interest rates aggressively perhaps before its next scheduled meeting in two weeks time, saying the head of the U.S. central bank sent a clear signal with his unscheduled statement on Friday.
Stock futures plummeted on Monday as investors were rattled by weekend data from China that showed its fastest ever contraction in factory activity, raising fears of a global recession from the coronavirus.
Investors battered by the breathtaking drop in global stock markets on coronavirus fears are ever more convinced the world's big central banks, including the Federal Reserve, will soon step in to try to quell the storm.
'How to Make Your Money Last' by Jane Bryant Quinn has been updated. In an interview with CNBC, she reveals what she's learned after a lifetime of covering all things money.
British Prime Minister Boris Johnson warned he would drive a hard bargain with the United States in upcoming trade talks as the government sets out its negotiating position on Monday.
It's too soon to rush back into stocks after the market suffered its worst week since 2008 amid coronavirus concerns, strategists warned.