Reuters

The dollar surged and everything else was blown away on Thursday as emergency central bank measures in Europe, the United States and Australia failed to halt a fresh wave of panic selling.

Oil prices surged as much as nearly 20% on Thursday, bouncing back from days of heavy losses in a relief rally that may yet be short-lived, analysts warned, but which was stoked by economic stimulus efforts to ward off a global coronavirus recession.

The dollar surged, bonds plunged and global markets struggled to find their footing on Thursday as the European Central Bank's latest promise of stimulus provided only brief solace while the world struggles to contain the coronavirus pandemic.

The New York Stock Exchange (NYSE) will temporarily close its trading floors and move fully to electronic trading from Monday, its owner Intercontinental Exchange Inc said after an employee and a trader were tested positive for the coronavirus.

Another day of massive swings across asset prices was marked by scant liquidity as investors dashed for cash while systematic strategies triggered automated selling amid rising volatility, market participants said.

Brazil has upheld proposals by Boeing Co to buy the jetmaking arm of Embraer , but plunging markets have raised urgent questions over the fate of the $4.2 billion deal as aviation reels from the coronavirus crisis.

Airline industry turmoil deepened on Thursday as Qantas Airways Ltd told most of its 30,000 employees to take leave and India prepared a rescue package of up to $1.6 billion to aid carriers battered by coronavirus, government sources said.

Harley-Davidson Inc faces a battle with one of its investors after Impala Asset Management said on Wednesday it will try to install two directors at America's oldest and best-known motorcycle maker.

BlackRock Inc executives who set the asset manager's influential proxy votes on Tuesday outlined tougher priorities tied to climate change and executive pay for the upcoming corporate annual meeting season taking place amid the coronavirus pandemic.

Asian stocks struggled to find their footing in volatile trade on Thursday, as the latest promise of stimulus from the European Central Bank propped up sentiment while the world struggles to contain the coronavirus pandemic.

Qantas Airways Ltd said on Thursday it will halt all international flights from late March until at least the end of May and is putting two-thirds of its workforce on leave after Australia told citizens not to travel overseas due to the coronavirus.

General Motors Co and Ford Motor Co said on Wednesday they were in talks with White House officials about how they could support production of medical equipment like ventilators that may be needed to combat the coronavirus outbreak.

General Motors Co and Mercedes Benz will furlough all employees in Brazil later this month, the companies said on Wednesday, suggesting that production in South America's main auto center will be heavily impacted by the coronavirus outbreak.

Asian stock markets fought to stabilize on Thursday, as the latest promise of stimulus from the European Central Bank propped up sentiment while the world struggles to contain the coronavirus pandemic.

Tesla Inc has agreed to reduce the number of active workers at its California vehicle factory, but remains in talks about other measures to comply with a regional lockdown to curb the spread of coronavirus, a county spokesman said on Wednesday.

The Detroit Three automakers will shut down their U.S. plants to stop the spread of coronavirus, bowing to pressure from the union representing about 150,000 hourly workers at those facilities, industry officials said.

U.S. stocks deepened their selloff on Wednesday and the Dow erased virtually the last of its gains since President Donald Trump's 2017 inauguration, as the widening repercussions of the coronavirus pandemic threatened to cripple economic activity.

As Wall Street extended its deep sell-off on Wednesday over fears about the coronavirus, the Dow Jones Industrial Average effectively erased the last of the once sizeable gains it made under U.S. President Donald Trump.

U.S. restaurants on Wednesday asked the White House and congressional leaders for at least $455 billion in aid to help them weather the coronavirus crisis, saying the industry could shed nearly half of its 15.6 million jobs and a quarter of annual sales.

Nissan Motor Co said Wednesday it will temporarily suspend production at its U.S. manufacturing to boost containment efforts around the COVID-19 coronavirus.