S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) futures are pointing to a negative open today after yesterday closed down 6.43% to 4,953.20.
The S&P 500 Index (INDEXSP:.INX) closed at 2,398.10, −131.09 or down 5.18% and the Nasdaq Composite (INDEXNASDAQ: .IXIC) closed at 6,989.84, −344.94 or down 4.70%.
The Reserve Bank of Australia (RBA) meets today and is expected to cut interest rates further from 0.5% ahead of more government stimulus.
A monetary policy announcement will be released on the wires and our website tomorrow at 2.30 pm. This will be followed by the Governor's speech at 4.00 pm - https://t.co/Pa7z5f34FJ pic.twitter.com/xJw30fJR0U— RBA (@RBAInfo) March 18, 2020
Gold down, oil smashed to new lows
Gold is down 2.5% overnight trading at US$1,487 per ounce while Crude Oil WTI is down 16.4% to US$22.84 per barrel.
The AUD is buying 57.7 US cents, and was as low as 57.0 US cents, levels not seen since 2002.
[Morning Report] - US sharemarkets slumped on Wednesday as investors waited for details and approval on a touted $1.3 trillion stimulus package from Congress.— CommSec (@CommSec) March 18, 2020
pause in trade.https://t.co/Sw5QsEExve#ausbiz pic.twitter.com/i6KrzU5rtn