The yield on benchmark US government debt fell to its lowest on record and stocks tumbled more than 2 per cent as investors struggled to shake concerns stemming from the spread of the coronavirus.

US stocks are struggling to bounce back from their steepest fall in two years, testing the ‘buy the dip’ mentality that has been a feature of the market in the past decade.

One of the UK’s biggest shopping centre owners will cut its 2020 dividend by almost half as it refocuses its business away from retail parks in a reflection of the dire state of the sector in the UK.

JPMorgan Chase expects to post a “mid teens” increase in trading revenues for the first quarter as market activity recovers following a tough period at the start of 2019.

Khalid al-Falih, who was removed from his position as Saudi Arabia’s energy minister last year, has returned to lead a new government ministry for investment as part of a cabinet reshuffle announced on Tuesday.

Mexico’s economy continued to flirt with recession, contracting slightly in the fourth quarter of last year according to revised numbers as President Andrés Manuel López Obrador struggled to boost growth to fund his ambitious welfare and infrastructure plans.

Odey Asset Management has increased its stake in Sirius Minerals to 1.4 per cent and will vote against the rescue takeover bid from Anglo American.

Japan’s Sumitomo Heavy Industries has invested $46m into a London-based battery start-up that uses liquid air to store energy, in a vote of confidence for a novel battery technology.

Petrofac, the oilfield services company under investigation by the UK’s Serious Fraud Office, has warned revenues will continue to slide in 2020 as it suffers a hangover from low orders taken in recent years.

Moderna has become the first company to release a potential coronavirus vaccine, with the Boston-based biotech start-up announcing on Monday that it had sent the vials to the US National Institutes of Health to be tested in humans.

Mastercard has cut its financial outlook, citing the impact of the coronavirus on cross-border travel and commerce.

Global stocks had their worst day in two years as new coronavirus cases outside China dashed hopes that the outbreak had been contained and raised fears of slowing global growth.

HP will explore a combination with Xerox for the first time since its rival launched a $35bn hostile takeover bid, its chief executive said on Monday, even as the Palo Alto-based PC and printer maker announced an aggressive plan to return up to $16bn to its shareholders in the next three years. 

Freeport-McMoran’s chief executive dismissed reports it could sell its giant Grasberg copper mine in Indonesia to rival Barrick Gold, saying “now’s just not the time” for any deals.

Anglo Pacific Group will no longer invest in thermal coal as the mining investor tilts its portfolio towards greener metals and minerals.

Countrywide yesterday confirmed it is in talks over a possible all-share tie-up with LSL Property Services that could create the UK’s biggest property group.

Coronavirus updates will remain front and centre for investors this week, but the South Carolina primary, earnings updates and Donald Trump’s visit to India are also likely to dominate headlines.

The yield on the 30-year US Treasury hit a record low and Wall Street posted its first weekly drop in three on Friday as renewed fears about the economic fallout of the coronavirus and disappointing data stirred concerns about the outlook for the US economy.

Shares in US lithium producer Livent fell by 15 per cent on Friday after the company said it didn’t see lithium prices recovering this year and warned of “headwinds” from the coronavirus.

A relaxation of trade tensions between the US and China spurred an unexpected jump in profits at tractor maker Deere & Co as farmers’ confidence returned following a trade deal between the countries.

Investors have piled into government bonds, sending the yield on the US benchmark Treasury below a key level as concerns over the impact of the coronavirus on the global economy drip back into the market.

UK business activity expanded at a steady pace in February, according to a closely watched survey, suggesting that a post-election economic bounce could continue.

Odey Asset Management has converted its derivative position in Sirius Minerals into shares, as the London-based hedge fund pushes for an improved takeover offer.

US and European stocks pulled back from record highs, with Wall Street’s main equities gauges at one point tumbling more than 1 per cent.

Sirius Minerals presented a more attractive investment opportunity than buying a stake in BHP’s giant Canadian potash project, according to the chief executive of Anglo American.