29 March 2020
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5 things you need to know today

Switzer Daily
23 March 2020

1. The NSW Department of Health has announced 136 new cases of coronavirus. This takes the total in the state to 669 confirmed cases. Six people have died.

2. Australian Prime Minister Scott Morrison has given notice for the announcement of a third economic package, after a $66 billion package was announced on Sunday to assist workers and businesses affected by coronavirus shutdowns. Workers who have lost their jobs are eligible for a welfare wage of up to $1100 a fortnight, while small and medium businesses will receive cash payments between $20,000 to $100,000.

3. Italy now has 59,138 confirmed cases of COVID-19 and 5,476 deaths — more than all of China, where the virus first emerged late last year. The total of new deaths from coronavirus in Italy in the last 24 hours is reported to be 651, down from the previous day total of 793.

4. US Congress and the White House are working on an economic stimulus expected to exceed $2 trillion in response to coronavirus shutdowns. This is in addition to the $1 trillion budget deficit. Corporate earnings are also expected to turn negative, which has not happened since the 2008 financial crisis.

5. The Dow was down 4.55% on Friday, ending at 19,173.98. S&P 500 was down 4.34% at 2,304.92 and Nasdaq was down 3.79% to 6,879.52.

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