US oil prices rebounded back above zero on Tuesday, a day after futures ended in negative territory for the first time as a coronavirus-triggered collapse in demand leaves the world awash in crude.

Embattled liquor baron Vijay Mallya on Monday lost a crucial appeal against his extradition to India with the UK High Court ruling that the ex-boss of Kingfisher Airlines did have a prima facie case to answer in the Indian courts over the alleged Rs 9,000-crore fraud associated with loans sought from Indian banks for his now defunct airline.

New York: Stocks are slipping in afternoon trading on Wall Street, as the price of oil cratered to historic lows Monday, cheaper than bottled water.

 The number of deaths from the new coronavirus in the United States topped 40,000 on Sunday, according to a running tally by Johns Hopkins University.

A gunman disguised as a police officer went on a rampage across the Canadian province of Nova Scotia, shooting people in their homes and setting fires, leaving 16 people dead Sunday, in the deadliest such attack in the country's history.

China has classified coronavirus epicentre Wuhan as a low-risk area, days after it revised the city's death toll by 50 per cent, even as 16 new COVID-19 cases were reported in the country, health officials said on Sunday.

President Donald Trump has cast doubt on the accuracy of China's official coronavirus death toll, terming it "unrealistic" and claiming that the actual number was "way ahead" of the US' which is not the world's "number one" country in terms of COVID-19 fatalities.

The number of the coronavirus cases in the US crossed 700,000 on Friday, while over 35,000 people have died from the disease, as President Donald Trump assured his people that America was "very close" to seeing the light "shinning brightly" at the end of the tunnel.