Alphabet Inc's Google and Sweden's IKEA joined other major firms in temporarily closing operations in China over the coronavirus outbreak.
The lockdown of several cities in China have impacted the global market.
"Markets will remain highly volatile as long as they feel that they only have an incomplete picture of what is going on, and what is going to happen next," said Agathe Demarais, global forecasting director at the Economist Intelligence Unit.
Meanwhile, a government economist in China said first-quarter growth could fall by one point to 5 per cent or lower.
The aviation sector has also taken a hit with several carriers including British Airways, Lufthansa, Air Canada and American Airlines suspending flights to China.
Tourist attractions in China remain shut and several streets remain largely deserted.
Meanwhile, firms across China are shutting its stores or offering staff the option to work from home.
Infections have been reported in at least 16 other countries, with 105 confirmed cases, but no deaths have occurred outside China.
After 55 years in the travel retail industry and 41 at the helm of Dubai Duty Free (DDF), Colm McLoughlin, Executive Vice Chairman & CEO has announced that he is stepping down from his role on May 31, 2024.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority (DCAA), Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group, says he expects passenger traffic at Dubai International Airport to exceed 90 million by the end of this year.
Apple on Tuesday introduced a new chip called the M4 that it said would outclass personal computers designed for artificial intelligence - but put the new chip in an iPad Pro model rather than a laptop.