1. The Morrison government will tighten eligibility for JobSeeker payments from September 28. The 1.35 million Australians currently receiving JobSeeker payments will have to apply for at least eight jobs a month and accept offers of “suitable work”.

2. Atlassian's co-founder, Mike Cannon-Brookes, has been in talks with Tesla CEO Elon Musk over developing a replacement power source for the Liddell coal-fired power plant. These talks came after the Morrison government announced this week that it would build a gas-fired power plant in the Hunter Valley, NSW, if the private sector didn't step in.

3. The Bank of England revealed the Monetary Policy Committee (MPC) had been "briefed on plans to explore how a negative bank rate could be implemented effectively, meaning it is now openly considering how to use negative interest rates", according to CNBC.

4. Moderna, one of the global frontrunners in developing a COVID-19 vaccine, may have an answer about the success of the vaccine from as early as October, said Moderna's Chief Executive Stéphane Bancel, in an interview. The CEO of Pfizer, another vaccine competitor, also pinned an October timeframe for Pfizer’s vaccine results.

5. The Dow slumped 0.47% to 27,901.98. The S&P 500 fell 0.84% to 3,357.01 and the Nasdaq was hit hardest falling 1.27% to 10,910.28.