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Global equity markets slid on Tuesday and the yield on 10-year U.S. Treasuries fell below 1% for the first time after the Federal Reserve cut interest rates to shield the U.S. economy from the impact of the fast-spreading coronavirus.

The U.S. Federal Reserve cut interest rates on Tuesday in a bid to shield the world's largest economy from the impact of the coronavirus, but the emergency move failed to comfort U.S. financial markets roiled by fears of a deep and lasting slowdown.

The Federal Reserve's next policy decision in two weeks' time will be driven by the latest news on how the coronavirus is affecting the economy, Cleveland Federal Reserve Bank President Loretta Mester said on Tuesday after an emergency rate cut.

Office management platform Eden said on Tuesday it has acquired shared workplace operator WeWork's Managed by Q for an undisclosed sum.

The United States sued a unit of the drugmaker Mallinckrodt Plc on Tuesday, accusing it of defrauding Medicaid out of hundreds of millions of dollars as a result of "meteoric" price increases for its biggest-selling drug, Acthar Gel.

The European Central Bank is preparing possible measures to provide liquidity to businesses hit by the economic fallout of the coronavirus outbreak, three sources familiar with the discussion told Reuters.

Bank of England Governor Mark Carney said policymakers around the world are working on a "powerful and timely" response to the economic hit from coronavirus which has raised fears of a new global recession.

The world's top three central banks look set to take steps to limit the economic damage from the fast-spreading coronavirus, with the heads of the European Central Bank and Bank of Japan issuing emergency statements on Monday that echoed one from U.S. Federal Reserve Chair Jerome Powell late last week.

An Australian court on Tuesday ordered Johnson & Johnson to pay three women a total of A$2.6 million ($1.7 million) plus legal costs as compensation for misleading patients and surgeons about the risks of its pelvic mesh implants.

The global oil benchmark ended Tuesday slightly lower under pressure from falling equities, but the losses were contained slightly as top producers considered more output cuts to support prices and the Federal Reserve cut U.S. interest rates to support the economy.

Global equity markets slid on Tuesday and the yield on 10-year U.S. Treasuries fell below 1% for the first time after the Federal Reserve cut interest rates in an emergency move to shield the U.S. economy from the impact of the fast-spreading coronavirus.

JPMorgan Chase & Co is asking thousands of U.S. employees to work from home as it tests a contingency plan for closing domestic offices should the coronavirus spread, Bloomberg News reported on Tuesday.

U.S. Federal Reserve officials have slashed interest rates half a percentage point because of the coronavirus.

Wall Street tumbled in a volatile session on Tuesday after the Federal Reserve surprised investors with a half percentage-point cut in interest rates, amplifying fears about the magnitude of the coronavirus' impact on the economy.

The coronavirus outbreak muddied the outlook for U.S. economy and could weigh on growth in the first half of this year, Cleveland Federal Reserve Bank President Loretta Mester said in London Tuesday.

A panel of OPEC and its allies recommended cutting oil output by an extra 1 million barrels per day (bpd) on Tuesday signaling that Russia and Saudi Arabia were moving closer to a deal to prop up prices which have been hit by the coronavirus outbreak.

U.S. package delivery companies United Parcel Service Inc and FedEx Corp warned on Tuesday that the coronavirus outbreak could disrupt shipment of goods in affected countries and possibly weigh on their first-quarter results.

Finnish network equipment maker Nokia will cut up to 148 jobs in Finland in 2020 excluding its 5G development operations, it said on Tuesday evening.

The U.S. Federal Reserve cut interest rates on Tuesday in a bid to shield the world's largest economy from the impact of the coronavirus, though Fed Chair Jerome Powell suggested the threat to the economy would not soon abate.

Germany's Lufthansa threw its weight behind a proposed $4.2 billion takeover of Embraer's commercial aircraft activities by Boeing , saying it would preserve a level playing field.