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An avalanche of selling in stocks on fears over the coronavirus outbreak took Wall Street's "fear gauge" to its highest level since the financial crisis on Thursday.

Growth in cloud business helped Oracle Corp top quarterly profit and revenue on Thursday and said the coronavirus will have "minimal impact" on the fourth-quarter revenue, which is usually skewed toward software licenses rather than hardware.

Workplace communication platform Slack Technologies Inc forecast a soft revenue outlook for the first quarter on Thursday, sending its shares down more than 20% aftermarket, on a day major U.S. stock indexes went into a tailspin amid coronavirus fears.

Amazon.com Inc on Thursday said it was recommending that employees globally work from home this month if they are able to do so, while warehouses and other facilities stayed operational so packages could keep shipping to customers.

AT&T Inc said on Thursday it is waiving data overage fees for all home internet users who are not currently on unlimited data plans, citing the coronavirus outbreak, while Comcast Holdings Corp said it was raising data speeds on the internet service it offers low-income people.

Banks are talking up their online and mobile banking capabilities to customers as more Americans look to avoid public places amid the coronavirus outbreak.

Working from home went from optional to mandatory across Wall Street this week as financial firms reported their first confirmed cases of coronavirus and the outbreak triggered a state of emergency in New York City.

Airlines on Thursday appealed for urgent government financial support as transatlantic carriers rushed to cut flights in the wake of new U.S. travel restrictions on Europeans aimed at combating the coronavirus outbreak.

Panic hit world financial markets on Thursday after stimulus efforts from the European Central Bank failed to calm investors alarmed by U.S. moves to restrict travel from Europe because of the coronavirus pandemic.

For three years, U.S. President Donald Trump has touted a stunning run-up in the stock market as evidence of his success in the White House. In the space of three weeks, most of those gains have evaporated.

Slack Technologies Inc forecast lower-than-expected billings for fiscal 2021 on Thursday and saw its expenses soar in the fourth quarter, sending its shares down more than 20% aftermarket.

Gap Inc forecast 2020 profit above market expectations on Thursday as it pushes through its restructuring plan, but said it expected an impact of $100 million in first-quarter sales due to the fast-spreading coronavirus in Asia and Europe.

United Airlines Holdings Inc said on Thursday it will continue to fly its regular schedule from Europe to the United States through March 19 but is scaling back flights after that date.

Slack Technologies Inc beat Wall Street estimates for quarterly revenue on Thursday, as more companies bought its products to digitize their workflows.

Shares in Boeing Co fell sharply for a second day on Thursday as sweeping U.S. travel restrictions on Europe, meant to curb the spreading coronavirus, heightened jitters about the company's growing cash burn.

JetBlue Airways Chief Executive Robin Hayes is taking a temporary salary cut of 20%, the company said on Thursday, the latest airline executive to reduce or forgo base pay in an effort to rein in costs amid the spreading coronavirus.

Business software maker Oracle Corp on Thursday reported better-than-expected quarterly revenue as more companies opt for its cloud services and software, sending its shares up 3% in extended trading.

Boeing said Washington state's move on Thursday to repeal of an aerospace business tax break brings the United States into full compliance with World Trade Organization rules, which U.S. policymakers hope will avert European Union tariffs on U.S. goods.

Gap Inc said on Thursday it expected a $100 million hit to first-quarter sales due to the impact of the fast-spreading coronavirus in Asia and Europe.

President Donald Trump signed legislation on Thursday to bar telecom carriers from using U.S. subsidies to purchase network equipment from Huawei Technologies [HWT.UL], ZTE Corp and other companies deemed a national security threat.