1. Following the Reserve Bank of Australia's meeting yesterday, the big four banks have all matched the RBA's 25 point cut with regards to home loans. This is out of character, as the big four banks usually hold back at least 5 points, inspiring concern that the banks are also in a state of panic over the impact of the coronavirus on the economy.

2. Google has cancelled its annual developer conference, Google I/O, due to the coronavirus. The conference is one of the company's annual highlights, with global developers being introduced to Google's latest technology. The company also confirmed that it has paused international employee travel, and employees who are currently overseas are advised to return home. Initially, travel was restricted in China, Italy and Iran (the areas most impacted by coronavirus), but have now extended it globally.

3. In the US, the Federal Reserve cut its benchmark interest rate by 50 points. It has been the first cut like this, since the 2008 global financial crisis.

4. Coles, Woolworths, ALDI, IGA and a number of major supermarkets where Australians get their supplies from have run out of basic supplies, like toilet paper and pasta, as people stock up out of fear of the spread of coronavirus.

5. Wall Street dropped again after a record high on Monday, with Dow Jones dropping 2.94% to 25,917.41, S&P 500 dropping 2.81% to 3,003.37 and Nasdaq dropping 2.99% to 8,684.09.