Gold rose and global equity markets slid on Tuesday after Apple Inc said it was unlikely to meet its sales guidance because of the coronavirus outbreak in China, a warning highlighting the epidemic's threat to global growth and corporate profits.
Oil prices were near flat on Tuesday, pressured by concerns over the impact on crude demand from the coronavirus outbreak in China, but prices drew support from a reduction in supply from Libya.
The Dow and S&P 500 were lower on Tuesday afternoon as a sales warning from tech bellwether Apple highlighted the impact of the coronavirus outbreak on global supply chains.
U.S. President Donald Trump on Tuesday blasted proposals that could hinder U.S. companies from supplying jet engines and other components to China's aviation industry and said he had instructed his administration to prevent such moves.
U.S. prosecutors overlooked apparent violations of U.S. sanctions against Iran by HSBC Holdings in exchange for the British bank's cooperation with a government investigation of Huawei Technologies, lawyers for the Chinese telecoms giant said.
A group of unions and consumer groups wrote to U.S. antitrust enforcers on Tuesday to oppose a proposed remedy that could lead to U.S. approval for AbbVie Inc's planned purchase of Allergan Plc .
Shares of Apple Inc fell 2 % on Tuesday and dragged the stocks of its suppliers across the globe lower, after the iPhone maker warned of lower sales in the current quarter acknowledging that the coronavirus outbreak was pressuring its supply chain.
Virgin Galactic Holdings Inc shares surged 24% on Tuesday, extending a rally since early December to over 400% and evoking a warning from an analyst who likes the space tourism company but warns it has become overbought.
Shares of Alstom SA and Montreal-based Bombardier Inc fell on Tuesday after the French firm agreed to buy its Canadian rival's rail division for up to 6.2 billion euros ($6.7 billion), a deal likely to draw scrutiny from competition regulators and unions concerned about job cuts.
