1. Westpac has joined ANZ in slashing dividends after its profits fell 70 per cent.

2. China, Australia and the EU have bypassed the US and formed a new global trade agreement. The new system will emulate the World Trade Organization's Appellate Body, which Trump suspended last year.

3. The number of COVIDSafe app downloads have surpassed 4.3million. The federal government has encouraged another 2million Australians to download the app in order for lockdown restrictions to be eased.

4. A report by the US Department of Homeland Security Intelligence, which was obtained by Associated Press, reveals American officials believe China "intentionally concealed the severity" of the pandemic in order to stock up on medical supplies as imports increased and exports decreased.

5. The Dow dropped on Friday by 2.55% to 23,723.69, the S&P 500 fell 2.81% to 2,830.71 and Nasdaq dropped 3.20% to 8,604.95.