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LATAM Airlines Group, the continent's largest carrier, said on Monday it is canceling 90% of its international flights, in light of the coronavirus outbreak.

U.S. stock indexes plunged about 8% on Monday, as investors dumped risky assets for cash after the Federal Reserve's drastic move to cut interest rates to near zero amplified worries over the extent of damage from the coronavirus pandemic.

Airbus has drawn up contingency plans to slow or stop production if France is placed under a further lockdown due to coronavirus, two people familiar with the matter said.

French carmaker PSA said on Monday the company will close its European factories until March 27 due to the coronavirus outbreak spread.

Uber Technologies Inc's food delivery business, Uber Eats, said on Monday it would waive off delivery fee for independent restaurants across the United States and Canada.

Britain's major supermarkets are working on plans to streamline their operations by cutting cafes, counters and other services to enable a depleted workforce to maintain basic provisions during the coronavirus outbreak, industry sources told Reuters.

Oil prices fell below $30 a barrel on Monday as the worldwide coronavirus outbreak worsened over the weekend, leading governments and businesses to shut down as the global economy appeared to be headed toward certain recession.

The White House is drafting a financial assistance package is expected to include direct assistance, loans and tax relief in the wake of the steep falloff in U.S. travel demand, officials briefed on the matter said Monday.

Brazilian airline Azul said on Monday it would cut all international flights out of its main hub in Sao Paulo state, while the country's government is likely to roll out a relief package as the sector struggles with the coronavirus pandemic.

Carmakers including Fiat Chrysler, Peugeot and Volkswagen cut production at European plants on Monday as they grappled with the coronavirus crisis and diving demand.

Deutsche Telekom on Monday postponed its March 26 annual general shareholders meeting due to the coronavirus, saying it planned to hold the gathering during the first eight months of this year as required by law.

The White House is drafting a financial assistance package is expected to include direct assistance, loans and tax relief in the wake of the steep falloff in U.S. travel demand, officials briefed on the matter said Monday.

The United States could begin purchasing U.S. produced crude oil for the Strategic Petroleum Reserve as soon as two weeks from now, and fill it in several months, an Energy Department source said on Monday.

U.S. stock indexes plunged about 7% on Monday, as the Federal Reserve's drastic interest rate cut to near zero stoked fears of a coronavirus-driven recession.

French carmaker Renault said on Monday it was shutting down production at its industrial sites in France until further notice because of the coronavirus outbreak.

Boeing Co's shares plunged another 20% on Monday, erasing all gains recorded during ousted CEO Dennis Muilenburg's tenure, as the mounting economic fallout of the coronavirus pandemic added to uncertainty around the 737 MAX's return to service.

When the U.S. Federal Reserve cut interest rates to near zero on Sunday, the dollar fell, since the move blew away the yield on owning dollars and with it much of their attraction.

U.S. markets should stay open despite intense volatility, the head of the U.S. securities regulator said on Monday, quashing industry speculation that the government might shut down the country's exchanges to stop a plunge in stock prices.

S&P 500 companies lost more than $2 trillion in value in the first few minutes of trading on Monday as investors panicked about the mounting damage from the coronavirus pandemic on the global economy.

Carmakers including Fiat Chrysler , Peugeot , Volkswagen and its premium unit Audi throttled back production at their European plants on Monday as they grapple with the coronavirus crisis and plunging demand.