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The U.S. Senate on Tuesday prepared to weigh a multibillion-dollar emergency spending bill passed by the House of Representatives offering economic relief from the coronavirus pandemic as the Trump administration pressed for $850 billion more.

European airlines on Tuesday called on governments to draw up a package of measures including deferring taxes to rescue the struggling industry as the crisis caused by the coronavirus pandemic deepens.

World share markets and oil prices struggled on Tuesday after coronavirus panic caused Wall Street's worst one-day rout since the Black Monday crash of 1987.

The coronavirus shockwaves rippling through U.S. stocks are forcing investors to contemplate outcomes more dire than a recession, including several quarters of declining economic activity, a credit crisis or even a depression.

Wall Street's main indexes looked set for a bounce on Tuesday, a day after their biggest drop since the 1987 crash, as efforts to contain the rapidly-spreading coronavirus upended parts of the economy and dampened business sentiment.

(This March 16 story corrects spelling error in headline and first paragraph)

Uber Technologies Inc on Tuesday began suspending shared rides on its ride-hailing platform in the United States and Canada to limit the spread of the coronavirus.

Europe's Airbus has signaled that some government support may be needed if the coronavirus crisis lasts for several months, three people familiar with the matter said.

Facebook Inc said Tuesday it plans to award $100 million in cash grants and ad credits for up to 30,000 small businesses in over 30 countries to address the economic impact of the coronavirus outbreak.

Swift government action is needed to help global airlines that are in a desperate situation and running out of cash, the International Air Transport Association warned on a media call on Tuesday.

The U.S. Senate on Tuesday prepared to weigh a multibillion-dollar emergency spending bill passed by the House of Representatives offering some economic relief from the coronavirus outbreak as the Trump administration pressed for billions more.

Retailers have been closing stores around the globe to reduce the risk of transmission of the coronavirus, which has killed over 6,500 people and infected more than 174,000 while disrupting supply and production chains.

Amazon.com Inc on Monday said it would hire 100,000 warehouse and delivery workers in the United States to deal with a surge in online orders, as many consumers have turned to the web to meet their needs during the coronavirus outbreak.

Ventas Inc said on Tuesday it was experiencing a slowdown in move-ins at its senior housing business and withdrew its 2020 financial forecasts, as the coronavirus pandemic raises the risk of tenants moving out.

Fiat Chrysler (FCA) has resumed limited production at its Atessa facility in Italy, the automaker's only open assembly plant, having halted operations at most of its European factories, a spokesman said on Tuesday.

The Trump administration plans is seeking a $850 billion stimulus package aimed at buffering the economy against fallout from coronavirus, the Washington Post reported on Tuesday citing four unnamed officials familiar with the plan.

Oil traded near $30 a barrel on Tuesday, close to its lowest since 2016, and analysts said more declines may follow as the coronavirus pandemic hits demand and Saudi Arabia and Russia battle for market share.

Volkswagen said its diesel cheating scandal has cost it 31.3 billion euros ($34.69 bln) in fines and settlements, and the German carmaker expects cash outflows to continue until 2021, adding that these have already been provisioned for.

Volkswagen Group , the world's biggest carmaker, is suspending production at factories across Europe as the coronavirus pandemic hits sales and disrupts supply chains, the company said on Tuesday.

L Brands Inc said on Tuesday it would temporarily close all its stores, including those of Bath & Body Works and Victoria's Secret, in the United States and Canada through March 29 and that it has drawn down $950 million from an existing credit line due to the coronavirus outbreak.