Australian PM says stimulus package will be announced soon

NSTworld: “Our objective is this - keep people in jobs, keep businesses in business, and ensure we bounce back stronger on the other side.' coronavirus covid19 stimuluspackage Australia

After global equities sold off heavily overnight following reports of a lockdown covering all of Italy, the Australian share market fell up to 4% in early trading before rebounding into positive territory by mid-session.

The prime minister said the impacts from the coronavirus outbreak were “potentially greater” than the global financial crisis of 2008, and the government would soon announce a stimulus package. He did not give details. The total number of cases in Australia rose overnight to 100 from 80 on Tuesday, with the most populous state of New South Wales reporting an additional seven cases, taking its tally to 54.

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