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Here's what you need to know before the markets open. 1. Global markets dive as the US ratchets up tensions with China over the coronavirus. Asian markets fell first, with Hong Kong's Hang Seng index down more than 4% at the close Monday. European stocks also plunged, with the Europe-wide Stoxx 50 down more than 3.5%. 2. Bond king Jeff Gundlach says Warren Buffett's ditching of US airline stocks is a 'big deal' and means the 'genie is not going back in the bottle'. Airlines are under pressure during the coronavirus and Buffett's sale of his stock could mark a turning point for previously attractive airline stocks, Gundlach suggested. 3. J.Crew has filed for bankruptcy. The American retailer said it reached an agreement with lenders to convert around $1.65 billion of its debt into equity. 4. Uber may require drivers and passengers to wear masks in the US. The ride-hailing titan is also developing tech to check whether drivers are wearing masks. 5. Disney, hit hard by coronavirus, to face Wall Street questions on impact on the company. On Tuesday, Wall Street will assess the level of damage and look for signs of a bottom. 6. Nissan to retrench further in new plan to focus on US, Japan, China. The "operational performance plan" is due to be announced on May 28. 7. HSBC to buy out life insurance joint venture partner in China. The move will allow London-headquartered HSBC to further expand its footprint in the world's second-largest economy. 8. Private equity firm Elliot Management is funding a high stakes patent lawsuit against streaming service Quibi. The fund will back Eko Technology's suit which claims Quibi is violating its patents and has stolen trade secrets, the Wall Street Journal reported. 9. Earnings expected. Ferrari, Tyson Foods and Loews Corp are scheduled to report results. 10. On the economic data front. The New York Business Conditions Index and Loan Officer Survey are due. | 
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