CNBC World News

Central banks still have a lot of ammunition left to deal with economic shocks, despite their recent decisions largely falling flat as global stock markets continue to plunge, analysts have told CNBC.

The Union of European Football Associations (UEFA) has postponed the Euro 2020 soccer tournament as a result of the coronavirus pandemic.

Actor Tom Hanks and his wife, Rita Wilson, have been released from an Australian hospital after being treated for the coronavirus.

Oil could fall below $20 a barrel and "stock markets could easily shed another 30-40% of their values," one analyst said.

Laura Ashley said on Tuesday it intends to appoint administrators as the coronavirus outbreak has had an immediate and significant impact on the UK retailer's performance.

Iran has temporarily freed about 85,000 prisoners, including political prisoners, a spokesman for its judiciary said on Tuesday, Reuters reported.

Airbus announced it would stop production and assembly activities at its plants in France and Spain for the next four days, as governments there implement new measures to restrict movements and fight the coronavirus outbreak.

Volkswagen has announced it is preparing to temporarily shut down most of its European plants in the wake of the coronavirus pandemic.

Birol and Barkindo said they expect developing countries to see their oil and gas income fall by 50% to 85% in 2020.

France will spend 45 billion euros ($50 billion) to help small businesses and employees struggling with the coronavirus outbreak, after President Emmanuel Macron declared "we are at war" against the virus.

Iran has temporarily freed about 85,000 prisoners, including political prisoners, a spokesman for its judiciary said on Tuesday, in response to the coronavirus epidemic.

Even if every American is given $1,000 to ride out the coronavirus crisis, it's still going to be difficult for the U.S. economy to stay afloat, said Andrew Levin, a former special advisor to the Federal Reserve Board.

Boris Johnson, the prime minister of the U.K., said that people should start working from home "where they possibly can."

Carrie Lam said about 90% of new confirmed cases in Hong Kong in recent weeks have been imported.

Stocks in Asia Pacific were mixed on Tuesday as they seesawed after shares on Wall Street plunged to their biggest day drop in more than three decades overnight, and the Philippines shut its markets temporarily.

CNBC's Julianna Tatelbaum argues why it's time that stock markets were shut for two weeks to allow the business community to adjust to the new reality brought on by the coronavirus.

While the situation might have been worse without the Fed's moves, the measures "clearly didn't stabilize the stock markets," said Joseph Stiglitz, a Nobel laureate economist.

Central banks have announced measures in recent months to tackle heightened global volatility and the economic fallout from the COVID-19 pandemic.

Solar is not the only renewable energy sector to be affected by the coronavirus.

As the coronavirus pandemic continues to grip economies across the globe, few industries have been left untouched by the fallout, and that's having huge implications not only for the workforce but also the recruitment process.