Australia markets open in 5 hours 43 minutes

Yahoo Finance's morning wrap for Thursday

Melbourne doesn't look like this anymore, but businesses may receive emergency cash to help them weather out the Covid-19 storm. Image: Getty

Good morning.

Here’s everything you need to know in finance today.

Dow crumbles: The Dow Jones Industrial Average has closed below 2,000 points, shedding nearly all the gains it has made since Donald Trump was elected president. 

ASX: The ASX is expected to open lower and continue falling throughout the day as Australian investors wait for news from the Reserve Bank of Australia on what it will do to reduce the financial fallout. 

The Australian SPI200 futures contract was down 80 points, or 1.63 per cent, at 4834 points at 0700 AEDT on Thursday, suggesting Australia's volatile market will also fall.

The market is now down 31 per cent since 20 February. 

Warren Buffett’s question: What the heck is a negative interest rate? The world’s best investor wants to know what negative interest rates mean for economies around the world as more and more nations begin to flirt with the prospect. Here’s what he said. 

Job-seeking tips: It looks like unemployment might be about to rise in a major way. An expert weighs in with their top five job-seeking tips

RBA cut: The Reserve Bank of Australia (RBA) could cut rates to a new low today in a rare out-of-cycle move, in a bid to help keep workers in jobs. The RBA will make an announcement at 2:30pm AEDT today. The US and New Zealand both recently cut rates to record lows. 

Emergency cash: Victorian businesses may be offered cash by the state government to keep them afloat. 

"We have many, many businesses who have zero income, so offering them a tax cut doesn't necessarily do it," Premier Daniel Andrews told reporters on Wednesday.

"We want to make sure that they're there at the end of this virus, and we need to be providing that sort of emergency capital, that sort of emergency cash."

NYSE’s move: And the New York Stock Exchange (NYSE) has announced it will move to electronic trading as of 23 March due to the coronavirus outbreak. 

Have a great day.

With AAP.

Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.

Follow Yahoo Finance Australia on Facebook, Twitter, Instagram and LinkedIn.