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The S&P 500 and Dow Jones dropped for the third session on Monday following a U.S.-China spat about the origins of the coronavirus outbreak, while major carriers slumped after billionaire Warren Buffett's Berkshire Hathaway dumped its stakes in the sector.

Nissan Motor Co Ltd will pull back from Europe and elsewhere to focus on the United States, China and Japan under a plan that represents a new strategic direction for the embattled carmaker, people with direct knowledge of the plan told Reuters.

Oil prices were mixed on Monday as countries started to ease coronavirus lockdowns, though a fresh spat between the United States and China over the origin of the virus weighed on prices.

Like the myriad approaches governments are taking to tackle the coronavirus crisis, the way the world's top banks are calculating their potential losses also differs widely, with puzzling outcomes for investors.

General Electric Co said on Monday it was planning to cut the global workforce of its aviation unit this year by as much as 25%, or up to 13,000 jobs, including both voluntary and involuntary layoffs, citing prolonged aircraft reduction schedules caused by the coronavirus pandemic.

Luxury sports car maker Ferrari cut its 2020 core profit forecast on Monday due to disruption caused by the coronavirus pandemic, which it said would mainly hit second quarter results.

Global stock markets fell on Monday on concerns U.S.-Chinese bickering over the origin of the coronavirus outbreak will ignite a new trade war, speculation that strengthened the dollar and drove gold prices higher.

Oil prices fell on Monday on worries that a global oil glut may persist even as coronavirus pandemic lockdowns start to ease and amid a fresh spat between the United States and China over the origin of the virus.

Shares of the top four U.S. airlines dropped on Monday after billionaire investor Warren Buffett said Berkshire Hathaway offloaded its entire stake in the carriers last month, adding to the sense of crisis around the industry.

U.S. stocks opened lower on Monday following growing U.S.-China tensions about the origins of the coronavirus outbreak, while billionaire Warren Buffett's admission he had dumped his airline shares crushed major U.S. carriers.

General Electric Co said on Monday it was planning to cut its global workforce in the aviation unit by as much as 25% this year, including both voluntary and involuntary layoffs, due to business disruptions caused by the COVID-19 pandemic.

Tyson Foods Inc expects to continue idling meat plants and slowing production because of the new coronavirus, the company said on Monday, signaling more disruptions to the U.S. food supply.

U.S. stocks were set to fall on Monday as a U.S.-Chinese spat about the origins of the coronavirus outbreak worsened while billionaire Warren Buffett's admission he had dumped his airline shares crushed major U.S. carriers.

Shares of the top four U.S. airlines dropped on Monday after billionaire investor Warren Buffett's Berkshire Hathaway said it offloaded its entire stake in the carriers last month, adding to the sense of crisis around the industry.

Operating profit at Czech carmaker Skoda Auto, part of the Volkswagen Group , fell 25% in the first quarter to 307 million euros as the new coronavirus outbreak started to bite, the company said on Monday.

Norwegian Air shareholders backed its financial survival plan on Monday, with more than 95% of votes cast supporting the conversion of nearly $1 billion of debt into equity and raising more cash from its owners.

Walt Disney Co's acquisitions spree that included swallowing much of Rupert Murdoch's 21st Century Fox last year, and a reputation for operational excellence, turned the company into the world's most powerful entertainment machine.

Tyson Foods Inc said on Monday it would temporarily close plants as needed in the battle with the coronavirus outbreak and expects meat sales to fall in the second half of this year as shutdowns hammer restaurants and other food outlets.

Shares in Spain's Telefonica SA rose on Monday to post the only strong gains on an otherwise almost entirely red Madrid index, after the company confirmed it was in talks with billionaire John Malone's Liberty Global Plc over a possible merger of their respective businesses in Britain.

Telefonica is in talks with billionaire John Malone's Liberty Global to explore a merger of its British mobile operator O2 with Liberty's Virgin Media cable network company, the Spanish company said on Monday.