1. The ASX plummeted on Monday to its worst numbers since August. The S&P/ASX 200 fell 2.25 per cent, or 160.66 points, to 6978.30, with the AFR correlating the drop with the coronavirus outbreak spreading to Italy. It was the second biggest one-day loss for the market in the past 12 months.

2. Australia’s biggest airports have made record profits, despite passenger growth being compromised by the coronavirus travel bans. Sydney, Melbourne, Perth and Brisbane airports collectively earned $863 million in operating profit in the 2018/19 financial year, according to the Australian Competition and Consumer Commission's Airport Monitoring Report. ACCC chair Rod Sims said the big four airports had managed to increase their aeronautical profit almost every year since the early 2000s. Airlines for Australia and New Zealand said the ACCC report was evidence "monopoly charging was still rife".

3. Harvey Weinstein has been convicted of sexual assault in a New York court today, where he faces up to 25 years in prison, and a potential life sentence. Weinstein was acquitted of sexual assault of his former production assistant, and first-degree rape of aspiring actress Jessica Mann. Many more actresses came forward to share their experience with Weinstein’s predatory nature, which ignited the #MeToo movement, including Angelina Jolie, Gwyneth Paltrow, Uma Thurman and dozens more Hollywood names.

4. The public memorial for Kobe Bryant, his daughter Gianna and seven others who died in a helicopter crash last month, was held in Los Angeles on Monday. Vanessa Bryant (Kobe’s wife and Gianna’s mother) gave an emotional speech after a lengthy silence, and NBA legends Michael Jordan and Shaquille O’Neal also shared emotional tributes. Beyonce, Alicia Keys and Christina Aguilera performed. The service ended with the short film “Dear Basketball” that won Bryant an Oscar in 2018.

5. Wall Street has plunged to its lowest drop in two years, with many attributing the global economic slowdown from the spread of the coronavirus. The Dow Jones Industrial Average closed 1,031.61 points lower, or 3.56%, at 27,960.80. The S&P 500 slid 3.35% to 3,225.89 while the Nasdaq Composite closed 3.71% lower at 9,221.28.