AAP

The Australian share market's remarkable gains for the year have vanished in four days of tumultuous trading as government officials rolled out worst-case scenarios for a response to the coronavirus outbreak.

Australia's travel ban on people coming from China has been extended for a further week as the government enacted an emergency response plan to deal with the coronavirus.

Australia's largest car dealership chain says the tough conditions in the vehicle market show no sign of rebounding, with nationwide sales down 7.8 per cent in 2019 and 12.5 per cent in January, compared to a year ago.

Lynas Corporation says Malaysia has approved a new three-year licence that allows it to operate the only major rare earths processing plant outside of China.

Flight Centre has slashed its full-year profit guidance amid the worsening impact of the coronavirus outbreak on the travel sector and as its first-half profit plunged.

The Australian share market has crept marginally higher after three tumultuous days during which most of the gains it made this year were all but wiped out.

Oil prices fell three per cent on Wednesday after hundreds of new coronavirus cases reported in Europe and the Middle East stoked fears that energy demand would decline, and on concerns that the virus would become a pandemic in the United States.

Gold prices have gained following a steep fall in previous sessions as concerns over the coronavirus outbreak and its impact on the global economy raised hopes of interest rate cuts by major central banks.

Rio Tinto has announced a record final ordinary dividend of $US3.7 billion ($A5.6 billion) on the back of solid full-year results.

A third straight day of monster losses for the Australian share market has come close to wiping out the local bourse's phenomenal gains since the start of the year.

Nine Entertainment has flagged cost cuts to its free-to-air businesses after a sharp drop in half year profit amid amid a weaker advertising market.

Virgin Australia is slashing its Tigerair fleet and cutting back on flights to rein in costs as the coronavirus cruels demand for leisure destinations and its budget airline's routes.

Australian shares have tanked nearly two per cent with falls across the board following a dive on US equity markets after a warning for Americans to prepare for the coronavirus.

Oil fell below $US56 a barrel overnight dropping for a third day, as concerns about the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses.

Gold fell over one per cent on Tuesday as the metal's rally to 7-year highs in the last session prompted profit-taking even as worries about the coronavirus kept investors anxious about the fate of global economy.

Australian stocks have suffered through second day of major losses, although they rebounded from their lows on news that US researchers had developed an experimental coronavirus vaccine.

Scott Morrison has described the coronavirus outbreak as a global health crisis, warning the economic impacts will stretch far beyond Australia's tourism and education sectors.

Vitamins producer Blackmores has reported a 46 per cent plunge in first-half profit, and flagged trouble from the coronavirus.

Australian stocks have plunged more than two per cent after fears the coronavirus could become a pandemic sparked a major sell-off on global markets.

Australian stocks are set to plunge again after fears about the spread of the coronavirus sparked a major sell off on global markets overnight.

Oil prices has slumped by nearly 4.0 per cent as the rapid spread of the coronavirus outbreak in countries outside China added to investor concerns over the effect on demand for crude.

Gold has soared as much as 2.8 per cent on Monday to its highest level in seven years, as investors worried about global economic growth in the face of sharply rising coronavirus cases outside China.

The Australian share market has suffered losses across the board, with $60 billion in value wiped out in the local bourse's worst day in six months. Energy stocks were hardest hit, as concerns grow over coronavirus, while gold was one of the few positive sectors.

Energy, chemicals and resources company Worley has posted a 40 per cent jump in interim net profit to $115 million thanks to improved market conditions and the benefits of its Jacobs Engineering division buy, while at the same appointing Andrew Liveris as its deputy chairman.

Health insurer nib has posted a 23 per cent fall in first-half profit, blaming a rise in claims for the softer result.

Australian stocks have plummeted after offshore markets fell on fears the coronavirus outbreak is spreading across Asia and will increasingly affect global economic activity.

Oil prices fell about one per cent on Friday on renewed concerns about crude demand being pinched by the economic impact of the coronavirus outbreak, while OPEC and allied producers appeared to be in no rush to curb output.

Gold has jumped more than 1.5 per cent to its highest level in seven years as investors rushed to the metal's safety due to concerns over global economic fallout from the fast-spreading coronavirus.

The Australian share market has finished lower for the first time since Tuesday, with every sector down except financials after the two days of gains sent it into record territory.

Australian shares have dipped following a record high on the local market and after US markets soured following a rise in coronavirus cases.

Oil prices rose on Thursday after the US government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of coronavirus outside China.

Gold prices climbed to their highest level in seven years overnight as an uptick in the number of coronavirus cases in South Korea fuelled worries over the wider economic impact of the outbreak.