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Global equity markets tumbled and the dollar slid on Thursday as the coronavirus spread quickly outside China, leading Britain to prepare for a significant increase in cases and France to say it appeared "inevitable" the outbreak would become an epidemic in the country.

OPEC pushed on Thursday for a bigger-than-expected oil output cut to support prices that have been hit by the coronavirus outbreak, effectively presenting its non-OPEC partners with an ultimatum to back the move or face a price collapse.

Apparel retailer Gap Inc on Thursday named long-time executive Sonia Syngal as its new chief executive officer, nearly four months after the surprise exit of its then chief Art Peck.

U.S. stocks sold off sharply on Thursday, with shares of banks and travel companies pummeled, as large swings in the market continued due to uncertainty over the spread of the coronavirus and its economic fallout.

U.S. Federal Aviation Administration chief Stephen Dickson said on Thursday he thinks a certification test flight for the Boeing 737 MAX - a key milestone for the return of the grounded plane - could come soon.

HP Inc on Thursday rejected Xerox Holdings Corp's raised takeover bid of about $35 billion, saying it undervalued the personal computer maker.

Portugal's flag carrier TAP canceled around 1,000 flights scheduled in March and April on Thursday after concerns about the coronavirus epidemic led to a fall in demand and said it envisaged an unspecified impact on revenues.

OPEC agreed on Thursday to cut oil output by an extra 1.5 million barrels per day (bpd) in the second quarter of 2020 to support prices that have been hit by the coronavirus outbreak, but made its action conditional on Russia and others joining in.

OPEC ministers said on Thursday they would recommend to OPEC+, a group that includes Russia, that additional oil production cuts of 1.5 million barrels per day (bpd) run until the end of 2020 rather than just during the second quarter.

Southwest Airlines Co said on Thursday it expected a hit of up to $300 million to its first-quarter operating revenue from the new coronavirus outbreak, prompting it to cut its quarterly revenue outlook.

Oil prices fell on Thursday as the coronavirus epidemic showed no signs of slowing, feeding worries about the global economy and prompting investors to sell more risky assets like stocks and crude oil and park money in safe havens.

The drop-off in air travel demand following the spread of coronavirus cases feels more driven by fear than economics, similar to 9/11, Southwest Airlines Co Chief Executive Gary Kelly told CNBC on Thursday.

The rapid spread of coronavirus cases worldwide is complicating a standard strategy used by airlines when disease, disaster or conflict hit travel destinations: lower fares and redirect flights to trouble-free areas.

Market volatility related to the coronavirus has provided a welcome boost for Wall Street banks' trading businesses, helping to offset the much-bigger drag of lower interest rates on lending profits, analysts said.

Global equity markets tumbled and the dollar slid on Thursday as the coronavirus spread quickly outside China, leading Britain to prepare for a significant increase in cases and France to say appeared "inevitable" the outbreak would become an epidemic.

U.S. stocks sold off sharply on Thursday, with shares of travel companies pummeled, as large swings in the market continued amid uncertainty over the spread of the coronavirus and its economic fallout.

Wall Street's losses deepened and the Dow Jones Industrials shed 1,000 points in afternoon trading on Thursday as the coronavirus death toll in the United States rose to 11 and travel related stocks took a severe beating.

Southwest Airlines Chief Executive Gary Kelly said on Thursday that the airline was not running dramatic fare sales in response to a drop-off in demand due to the spreading coronavirus.

Alphabet Inc's Google on Thursday joined Amazon.com Inc, Facebook Inc and Microsoft Corp in recommending employees in the Seattle area to work from home, after many were infected with the coronavirus in the region.

European planemaker Airbus failed to win any new aircraft orders in February, it said on Thursday, providing further evidence of disruption across aviation industries from the global coronavirus outbreak.