On Tuesday, major airlines around the globe fell into crisis, as the coronavirus outbreak and Italy's lockdown hit the tourism industry.
On Tuesday, Reuters reported that due to the recent drop of crude oil prices OPEC countries are losing $500 million per day.
Tesla announced on Tuesday that the company would expand its car parts production in Shanghai.
During early Tuesday's US trading hours, the Japanese Yen and Swiss Franc decline in value against the US Dollar, as risk on sentiment returned in the market.
Various US airlines announced on Tuesday that they are reducing capacity, cutting costs and would drop 2020 profit forecasts.
On Tuesday, Argentinian officials announced that the country would restructure bonds that are valued almost $68.8 billion.
At the start of US trading, stock indices surged. Some attributed it to hopes of market stimulus. Meanwhile, it was spotted that indices bounced off a Fibonacci retracement level.
Alibaba Group Holding, the Chinese e-commerce giant, is planning to build a research lab in China for the 5G technologies development, under its research division DAMO Academy.
Nissan Motor will likely to withdraw from its venture fund with Renault and Mitsubishi Motors, in the Japanese carmaker's cost-cutting drive, Reuters reported.
Alibaba's affiliate Ant Financial is set to launch its mobile app platform Alipay to 40M service providers in China in the following three years and will also help them digitise their offerings, the company said on Tuesday.
On Tuesday, IKEA began to sell its products through on Alibaba's China e-commerce platform Tmall, marking the first time when the world's largest furniture retailer sold via a third party during 77 years of its existence.
On Tuesday, Reuters revealed that a quarter of oil rigs in Iran are not producing crude oil. The production has been stopped due to US sanctions.
Tesla Inc is planning to boost its output capacity for car parts at the electric carmaker's $2.0B plant in Shanghai, according, as it is eager to localise the supply chain in the largest auto market in the world.
The Japanese government is planning to spend $4.1B in its efforts to cope with the coronavirus outbreak's fallout, two government sources reported to Reuters on Tuesday.
Norwegian Air has temporarily suspended its air traffic with Italy due to the coronavirus-related quarantine restrictions, the budget airline stated on Tuesday,
Blackstone Group Inc has entered exclusive talks over taking the developer SOHO China private in a $4.0B deal, according to Reuters.
During Monday's US trading hours, the US government stated that state actors have caused the current drop in crude oil prices.
On Monday, crude oil prices plummeted by more than 25%, which is the biggest drop since the 1991 Gulf War.
On Monday, US shale oil producers began a spending cut spree and a reduction of production that was caused by crude oil price drops.
During Monday's US trading session, stock indices dropped, as the global economy was expected to get hit by a Italian quarantine.
JPMorgan Chase is likely to eliminate nearly 140 jobs in Switzerland in a bid to cut costs, sources familiar with the matter told Reuters.
Siemens announced its intention to keep a minority stake of 30% in Siemens Energy, which it spinning off later in 2020.
Germany's exports decreased 2.1% to €106.5B in January this year, compared to the same month in 2019, Destatis reported on Monday.
UK-based Aon Plc said that it would acquire Willis Towers Watson for nearly $30B in an all-stock deal, which is expected to face regulatory hurdles.