Australia markets closed

Woman allegedly stole $1 million: in the Yahoo Finance morning wrap

The coronavirus dominates the headlines this morning. (Images: Getty)

Good morning.

Markets: The US Federal Reserve cut its rate by 50 basis points overnight to soothe coronavirus fears. But Wall St didn't think it was enough, ending the day down. The G7 finance ministers also promised action, although details were thin.

One expert told Yahoo Finance US that the "emergency cut" just pandered to public panic, and only acted to spook investors even more.

The Australian stock market is forecast to follow, with the SPI200 futures down 1.44 per cent at 7am AEDT.

The Australian dollar was buying 65.94 US cents 7am AEDT this morning, up from 65.45 US cents at market close on Tuesday.

A woman is facing allegations she stole almost $1 million. The 41-year-old, who was arrested on Australia Day, was a contractor for a Sydney business – and is accused of transferring funds into her account over three years.

Has your business been affected by the coronavirus? The Queensland government has announced small businesses in that situation can defer their payroll tax obligations for six months.

The UK government has predicted one-in-five British workers could be absent from work at the peak of the virus epidemic. Police could be forced to focus on just "serious crimes and maintaining public order" if its numbers are devastated.

Apple co-founder Steve Wozniak reckons he and his wife might've been the first Americans to have the coronavirus. He said that his wife Janet had a bad cough in early January after returning from China and he was also recovering from a serious illness that month.

Have a great day!

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