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Cash is king as emergency central bank stimulus fails to stop market panic

Stocks, bonds, gold and commodities fell as the world struggles to contain coronavirus and investors and businesses scramble for hard cash.

Covid-19: Australia dives into quantitative easing, cuts rates for 2nd time

The Reserve Bank of Australia (RBA) reduced its cash rate to an all-time low of 0.25% and said the board would not tighten policy until it achieves its employment and inflation goals.

Oil prices surge nearly 20% as investors hail coronavirus stimulus spending

OANDA's Moya cautioned that the selling could start again in oil markets.

Gold rises as ECB measures to limit coronavirus impact lift investors' mood

The metal fell about 3% on Wednesday along with other precious metals, as investors sold across assets to hoard cash.

US Federal Reserve moves to ensure liquidity in money market mutual funds

The new facility will offer "support for the flow of credit to households and businesses" by ensuring the $3.8 trillion money market mutual fund industry can sell its holdings of US Treasury bonds

Free testing to paid sick leave, major elements of US coronavirus aid bill

The bill would provide free coronavirus testing for those who need itR

Coronavirus: India mulls up to $1.6 bn rescue package for aviation sector

The Finance Ministry is considering a proposal that includes temporary suspension of most taxes levied on the sector

Japan may offer cash payouts to households for battling coronavirus

The Sankei newspaper reported Japan's ruling coalition was considering an economic package worth more than 30 trillion yen ($276 billion) to deal with the virus fallout.

China's HIV drug experiment to treat novel coronavirus outbreak fails

The test "was a heroic effort. Unfortunately, the trial results were disappointing"

European Central Bank to print 1 trn euro this year to stem Covid-19 rout

The euro rebounded after the announcement and was last up 0.16% at $1.0929 and Asian stock markets stabilised.

Global airline industry in turmoil as coronavirus batters air carriers

In Australia, Qantas said it would cut all international flights

Oil plunges to 18-year low as coronavirus lockdowns trigger market meltdown

The decline in the US market in the last 10 days is the largest ever for the contract since it was introduced in 1983

Wall Street extends recent selloff, Dow all but erases 'Trump-bump'

Trump's request for Congress to approve $500 billion in cash payments to taxpayers along with $50 billion in loans for airlines did little to stem the rout

US economy likely to shrink by 4% in Q1, down by 14% in Q2: JP Morgan

The forecast assumes the Fed will continue to find "creative" ways to support the economy and that the Trump administration and Congress deliver fiscal support of $1 trillion

Govts scramble to prop up airlines as Covid19 forces more flight, job cuts

US airlines are seeking to quickly reduce their workforces through unpaid leave of up to 12 months with medical benefits or early retirement packages in a sign carriers do not expect a quick rebound

Coronavirus deaths cross 8,700 worldwide, more than 204,000 affected

Infections outside China have been reported by 170 countries

Here's a list of sports events around the world hit by coronavirus pandemic

The Olympic Games flame handover in Athens will be done in an empty stadium on March 19

Coronavirus could destroy up to 25 million jobs globally: Labour body

The organization called for urgent, large-scale and coordinated measures to protect workers in the workplace, stimulate the economy and support jobs and incomes

Trump closes Canada border to check coronavirus, seeks funds from Congress

Trump said details on the move would be announced later but that it would not affect trade between the two countries

Covid-19 impact: BOJ eases policy further, ramps up risky assets purchase

The BOJ left unchanged its short- and long-term interest rate targets buy a 7-2 vote.