Photo: Nicolas Economou/NurPhoto/Getty Images

Nearly 2,700 have been stranded after WOW Air, a low-cost Icelandic airline, abruptly announced they will be ceasing all operations and grounding all 27 of its airplanes, according to a travel alert on the company's website.

The big picture: WOW Air's chairman, Skuli Mogensen said he was unable to secure funding and had been trying to save his company, which first took flight in 2012, for months. Passengers are being told that other airlines may have reduced rates as a result, and anyone who has purchased a ticket will get a refund. Nearly 1,000 people will lose their jobs, CNN reports.

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Stocks close down more than 3%

Photo: Alexi Rosenfeld via Getty Images

Stocks took a hit on Wednesday, with the S&P 500, Dow Jones Industrials Average and Nasdaq dropping more than 3% across the board.

Why it matters: The volatility is a break from the stock market grinding higher in the face of spiking coronavirus cases, a stalling economy and gridlocked negotiations over an additional stimulus package.

Zeta, now a Category 2 Hurricane, closes in on Louisiana coast

The probable path of Zeta, per the National Hurricane Center. Photo: NHC/NOAA

Zeta strengthened on Wednesday afternoon, on track to make landfall along the southeastern coast of Louisiana by the afternoon as a "significant" Category 2 hurricane, per the National Hurricane Center.

The state of play: Zeta is producing 100-mph maximum sustained winds and stronger gusts. The storm is gaining strength as it heads northeastward at 20 mph. Louisiana Gov. John Bel Edwards (D) requested a pre-landfall Emergency Declaration in a letter to President Trump on Tuesday.

24 mins ago - World

France imposes lockdown as Macron warns of overwhelming second COVID wave

French President Emmanuel Macron. Photo: LUDOVIC MARIN/AFP via Getty Images

French President Emmanuel Macron announced on Wednesday a second nationwide lockdown starting Friday to contain the coronavirus.

Why it matters: “(France has been) overpowered by a second wave,” Macron said in a national televised address Wednesday, noting the "new wave will be stronger and deadlier," than the first. The announcement comes after the country saw over 36,000 new cases in the last 24 hours.

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