The Italian health ministry said as of 6 p.m. local time on March 22, at least 5,476 people have died due to COVID-19.
7:38 am: Asia-Pacific stocks set for another day of declines
The S&P/ASX 200 dropped 7.65% in early trade as the sectors mostly fell. The heavily weighted financial subindex dived more than 9%, with shares of the country's so-called Big Four banks all selling off steeply: Australia and New Zealand Banking Group fell 9.61%, Commonwealth Bank of Australia dropped 8.01%, Westpac declined 10.27% while National Australia Bank slipped 10.15%.
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