Coronavirus update: Fiat shuts closes plants, airlines decimate capacity, Nike closes stores

Coronavirus continues spreading over the world, with nearly 170,000 cases and 6,500 dead. The economic damage is broadening.

Fiat Chrysler has announced it is closing factories across Europe in response to various effects of the disease. SAAS, a nordic airline, will lower its workforce by 90%, while Air France is grounding its entire A380 fleet. IAG, a group of airlines, is set o cut capacity by 75% in April. EasyJet has said it is impossible to provide guidance. 

After closing stores in China, Apple reopened them but closed shops outside the world's largest economy. Nike, a sports brand, is also closing stores.

More: Coronavirus update: Russia closes its border with Belarus; New York, LA shut bars and restaurants