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President Donald Trump criticized General Motors on Friday and cited the Defense Production Act after saying the automaker reduced the number of ventilators it said that it could provide to hospitals struggling to care for patients ill with coronavirus.

Sweden's H&M, the world's second-biggest fashion retailer, said on Friday it had started production of protective face masks for hospital staff and would ship the first batches to Spain and Italy.

French car maker PSA, which makes the Peugeot and Citroen brands, said on Friday it had presented health measures to its unions with a view to gradually restarting its European plants, which have been closed for fear of coronavirus infection.

European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact.

Leading British fashion chain Next has bowed to pressure from workers worried about their health and shut its online business, cutting off its remaining source of revenue during the coronavirus outbreak.

The Federal Reserve's term repurchase agreement (repo) operation on Friday morning received no bids out of a possible $500 billion for the first time since regular operations began last year.

A raft of programs from the U.S. central bank and a $2 trillion rescue bill nearing approval in Congress are aimed at providing relief during a "self-mandated" recession "so that when the virus is defeated we can walk, we can run, and then we can sprint out of this," Dallas Federal Reserve bank President Robert Kaplan said on Friday.

Wall Street fell more than 3% on Friday, following the S&P 500 and the Dow's best three-day run in nearly a century, as fears about the economic damage from the coronavirus pandemic returned to the forefront.

Defense contractor Lockheed Martin Corp said on Friday that it would advance more than $50 million to suppliers hurt by a sharp economic slowdown caused by efforts to stop the coronavirus.

U.S. consumer spending rose moderately in February and momentum is set to fade rapidly in the coming months, with the coronavirus pandemic upending life for Americans.

Senior officials in the Trump administration agreed to new measures to restrict the global supply of chips to China's Huawei Technologies, sources familiar with the matter said, as the White House ramps up criticism of China over coronavirus.

State investor Temasek Holdings and others put together a funding package of up to S$19 billion ($13.27 billion) for Singapore Airlines (SIA) in the single biggest rescue for an airline slammed by the coronavirus pandemic.

Nestle , the world's biggest food company, said it would pay full salaries for at least three months to employees affected by work stoppages to prevent the spread of coronavirus.

India's coronavirus lockdown is disrupting e-commerce companies including Amazon and Flipkart, despite government assurances it would not, four sources familiar with the matter told Reuters.

U.S. Treasury Secretary Steve Mnuchin said on Friday that the coronavirus economic stimulus bill before Congress is not an airline bailout and that taxpayers will be compensated for relief given to companies hobbled by the global pandemic.

U.S. stock indexes fell sharply at the open on Friday, following the S&P 500 and the Dow's best three-day run in nearly a century, as fears about the economic damage from the rapidly spreading coronavirus returned to the forefront.

U.S. consumer spending rose moderately in February and momentum is set to fade rapidly in the coming months, with the coronavirus pandemic upending life for Americans.

Polish fashion retailers may not survive the coronavirus crisis if the government, banks and shopping mall owners do not help them bear the costs, a lobby group said on Friday, as Poland closed non-essential shops to stop the spread of the virus.

Oil producers need to resume cooperation in an effort to stabilize the global market, Russian and OPEC officials said, as the industry reels from a demand and price collapse caused by the coronavirus pandemic and an emerging price war.

European Central Bank chief Christine Lagarde urged wrangling EU leaders to act more decisively to cushion the economic hit of the coronavirus pandemic, three sources familiar with the matter said on Friday, as the bloc feuds over how far to go.