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Apple Inc. Chief Executive Officer Tim Cook suggested the iPhone maker wouldn’t make any quick moves out of China in light of interruptions due to the coronavirus and called the situation a “temporary condition.”

Oil plunged to the lowest level in 14 months as panic from the fast-spreading coronavirus spiraled global markets deeper into losses for the seventh straight day.

GENEVA — The Geneva auto show was canceled after the Swiss government put an immediate ban Feb. 28 on all public and private events involving more than 1,000 people in order to halt the spread of the new coronavirus.

The global spread of coronavirus is lowering expectations that Canada’s economy will quickly emerge from one of its worst slowdowns in years, fueling bets the central bank will be forced to cut interest rates.

PARIS — Despite record profits last year, Peugeot maker PSA Group said Feb. 26 it lost 700 million euros ($760 million) in China — and that was before the new virus hit a key manufacturing center.

Oil deepened a three-day rout as panic over a coronavirus outbreak in the U.S. gripped investors and sent shockwaves through commodity, equity and debt markets.

Machinery giant Deere & Co. delivered an unexpected increase in earnings and maintained its annual outlook as early signs of stabilization in the U.S. farm sector offset a slowdown in construction. Shares rose the most in three years.

The global shipping industry has run into very rough waters in 2020 as the virus crisis that has engulfed China and roiled commodity markets added to headwinds from a seasonal slowdown and poor weather. One chief executive who oversees a fleet of 55 vessels says there’ll be a comeback.

A.P. Moller-Maersk A/S, the world’s largest container shipping company, is positioning itself for a strong rebound in two months, based on an expectation that the fallout of the coronavirus on global trade may soon peak.

Global trade in goods will likely stay weak in coming months as disruptions from coronavirus in China staunch the movement of international commerce already slowed by tariffs and uncertainty, according to the World Trade Organization.