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Jeju Air Co Ltd , South Korea’s biggest low-cost carrier, purchased 40 Boeing 737 Max 8 planes worth $4.4 billion, the airline said on Tuesday.

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Oil prices were held in check on Tuesday as expectations of an OPEC-led supply cut supported the market but were countered by a deteriorating economic outlook, as well as a surge in U.S. production.

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Japan’s Nikkei fell on Tuesday morning as a drop in Nasdaq shares dragged down Japanese tech names, while Nissan Motor tumbled on news of Chairman Carlos Ghosn’s arrest and dismissal.

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Asian stock markets skidded on Tuesday, extending sharp losses on Wall Street as technology firms bore the brunt of worries about slackening demand, while the dollar sagged after weak U.S. data further sapped confidence in the currency.

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South Korea’s biggest budget carrier, Jeju Air , purchased 40 Boeing 737-8 Max planes worth $4.4 billion, the airline said on Tuesday.

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Oil prices were stable on Tuesday on expectations that producer club OPEC will soon cut supply to prevent oversupply amid slowing demand growth and a surge in output from the United States.

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Shares of Nissan Motor Co fell 6 percent early on Tuesday, a day after the arrest of Chairman Carlos Ghosn sent shockwaves through the business world and threw into doubt the future of Japan’s No.2 automaker and its global alliance.

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Oil prices edged up on Tuesday as markets expected producer club OPEC to agree to supply cuts at their next meeting on Dec. 6, aimed at preventing oversupply amid slowing demand growth and a surge in output from the United States.

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Asian stock markets slipped on Tuesday, extending sharp overnight losses on Wall Street as technology firms bore the brunt of worries about slackening demand, while the dollar sagged after weak U.S. data further sapped confidence in the currency.

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Shares of Nissan Motor Co were overwhelmed with sell orders on Tuesday, a day after the arrest of Chairman Carlos Ghosn sent shockwaves through the business world and threw into doubt the future of Japan’s No.2 automaker and its global alliance.

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The Federal Reserve is still expected to raise interest rates again next month and three times next year, but a strong majority of economists polled by Reuters over the past week say the risk is it will slow that pace down.

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A University of Chicago-trained economist named on Monday to head Brazil’s Petrobras will not privatize the state-run company, but wants to push ahead with selling non-core assets and to focus on oil exploration and production.

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Northrop Grumman Corp has been awarded a $490 million U.S. defense contract for the sale to Japan of Global Hawk unmanned surveillance aircraft, the Pentagon said on Monday.

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World stock markets fell on Monday as worries about softening demand for the iPhone dragged down shares of Apple Inc and persistent trade tensions between China and the United States sapped investor sentiment.

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Crude futures rose ahead of settlement in choppy trade on Monday, supported by a reported drawdown of U.S. oil inventories, potential European Union sanctions on Iran and possible OPEC production cuts.

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