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S&P 500 companies' earnings are expected to decline in the first quarter from the year-earlier period, reversing a forecast for profit gains, according to IBES data from Refinitiv, as companies face the toll from the coronavirus outbreak.

The S&P 500 index fell on Wednesday when trading resumed after an initial automatic 15-minute cutout, as investors priced in a complete breakdown in business activity and consumer spending from the coronavirus pandemic.

The French government will consult with its Dutch counterpart before making any decision over support for Air France, the French subsidiary of Air France-KLM , Finance Minister Bruno Le Maire said on Wednesday.

Tesla Inc's vehicle factory in California appeared to be operating normally on Wednesday despite an order by local officials to comply with a three-week lockdown in the San Francisco Bay Area to rein in the spread of coronavirus.

Delta Air Lines said on Wednesday it was parking more than 600 jets -- at least half of its fleet -- cutting more flights and implementing a round of paycuts for officers, managers, and directors while members of the board forgo compensation.

U.S. regulators are considering issuing guidance that would encourage lenders to offer loans to low-income individuals and to provide leniency on some repayments amid the coronavirus pandemic, an official within a banking agency told Reuters.

Australia and Taiwan joined governments offering financial aid to airlines, while authorities in Europe rushed on Wednesday to agree steps to rescue carriers which have had to park planes and cut jobs as the coronavirus puts the brake on travel.

U.S. package delivery company FedEx Corp suspended its 2020 profit outlook on Tuesday, citing the "significant impact" of the coronavirus, and said it would cut costs due to the uncertainty wrought by the pandemic.

The Dow Jones index fell more than 7% to a three-year low on Wednesday, moving into negative territory compared to levels when President Donald Trump took office and marking the latest landmark in Wall Street's most dramatic selloff in decades.

General Motors Co will furlough all its employees in Brazil starting on March 30, the company said in a statement to Reuters on Wednesday, suggesting that GM's production in South America's main car market would stop due to the coronavirus outbreak.

Southwest Airlines Co said Wednesday it is canceling more than 50 flights after the Federal Aviation Administration (FAA) extended the shutdown of the air traffic control tower at Chicago Midway International Airport following reported coronavirus cases.

Tesla Inc's vehicle factory in California appeared to be operating normally on Wednesday despite an order by local officials to comply with a three-week lockdown in the San Francisco Bay Area to rein in the spread of coronavirus.

Thyssenkrupp , a major supplier to the automotive industry, on Wednesday said it was considering shortened working hours as carmarkers reduce or suspend production due to the coronavirus crisis.

Goldman Sachs said it has instructed most of its staff in the Americas, Europe, the Middle East and Africa to work from home from Wednesday until further notice, according to an internal notice the bank posted on its website late on Tuesday.

The European Union on Wednesday emphasized its desire to negotiate an end to a longstanding dispute with the United States over aircraft subsidies even as Washington raised duties on Airbus aircraft by 50%.

Wall Street resumed a steep slide on Wednesday while bond markets rushed to price in the sheer scale of government support programs and handouts announced over the past 24 hours, all aimed at softening the economic shock of coronavirus.

Oil prices plunged on Wednesday, with U.S. crude futures hitting an 18-year low and Brent a 16-year low as Goldman Sachs said lockdowns to counter the coronavirus pandemic raised prospect of the steepest ever annual fall in oil demand.

French carmakers PSA and Renault are entitled to benefit from all measures put in place to fight the economic impact of the coronavirus outbreak, France's Finance Ministry told Reuters on Wednesday.

As Brazil's stock market hit record highs in January, Economy Minister Paulo Guedes said the country could raise up to 150 billion reais ($30 billion) with sales of state-owned companies through share offerings, mergers and acquisitions.

AT&T Inc said Wednesday it will close 40% of its U.S-company owned retail stores nationwide as a result of the coronavirus outbreak.