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The WHO declared COVID-19 a pandemic as the number of new cases ex-China rose sharply. US shares plummeted, the DJIA closed in bearish territory and the Bank of England cut its policy rate -50bp outside its regular meetings.

As a consequence, the US President Trump will make a statement on the coronavirus pandemic at 9pm NY/12pm Sydney, or GMT 0100. Clues of the stimulus package are expected to be announced. 

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Key notes

  • US Pres. Trump: There is nothing more important to me than the life & safety of the United States

  • President Trump weighs restricting non-essential travel from Europe – Bloomberg

  • White House trade adviser Navarro: Payroll tax cut would be `highly effective stimulus’ – BBG TV

  • US President Trump: If we get rid of the coronavirus problem quickly, we won’t need stimulus

 

Expert score

5

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