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The coronavirus crisis in China has hammered many markets this month: none may have felt a bigger impact than freight, reflecting consequences for raw materials, including iron ore, that are carried by sea.

The World Health Organization declared the coronavirus outbreak that started in China a global emergency Jan. 30 after the number of cases worldwide spiked more than tenfold in a week.

Automakers probably will dial back production by 15% in China this quarter after extending holiday shutdowns due to the potentially deadly coronavirus, a top supplier said.

Oil traders in Asia are expecting refineries to cut operating rates and extend shutdowns as the spread of coronavirus stops people from flying or traveling by road.

The world’s top steelmaker is wrestling with the effects of the deadly, rapidly spreading virus that is impacting labor, logistics and demand across China.

Toyota Motor Corp. is halting production in China and other companies suspended operations or asked employees to work from home as they grapple with a SARS-like coronavirus that has killed more than 130 people and is threatening a key growth market.

Public buses have been ordered off the roads in Tangshan, the biggest center for steelmaking in the world’s top producer.

Energy stocks have quickly reverted to being among 2020’s worst performers as fears increase that China’s deadly coronavirus will hit oil demand.

Global companies including Honda Motor Co. and Groupe PSA are evacuating workers from areas of China hardest hit by a deadly viral outbreak.