29 March 2020
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AP Photo/Nick Perry

5 things you need to know today

Sophia Katsinas
24 March 2020

1. G20 finance ministers and central bank governors had a phone meeting with the IMF and OECD. Australian Treasurer Josh Frydenberg said "the conversation revealed around 80 countries have approached the IMF for financial support, and that the expectation is that global growth will be negative this year.

2. UK Prime Minister Boris Johnson announced the UK is now in COVID-19 lockdown with all gatherings of more than two people (excepting families) being separated by police. All shops and institutitions apart from essentials such as food and pharmaceuticals will be closed for at least three weeks.

3. Australian Social Services Minister Anne Ruston said it is best "perhaps not to contact or to use the Centrelink services for the next few days" for individuals already receiving welfare, due to the overwhelming demand for social services after at least 40,000 presumed Australians lost their jobs yesterday due to coronavirus shutdowns.

4. New Zealand announced a Level 3 lockdown yesterday, which are reflective of similar measures that Australian has implemented by closing "non-essential" services. As of tomorrow, New Zealand will enter Level 4 where schools, non-essential businesses, public transport and air travel will be shutting down from Wednesday evening as the country enters a full lockdown.

5. The Dow is down 3.04% at 18,591.93, S&P 500 is down 2.93% at 2,237.40 and Nasdaq was down 0.27% at 6,860.67.

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