The big shock for Canberra was the news we had our first confirmed case of COVID-19.

This, while of great concern to locals, barely rated a mention elsewhere. It was soon buried under a cascade of grim tidings from across the rest of the nation and around the globe.

Donald Trump's decision to impose a ban on travellers from Europe took many people by surprise.

So did his scathing comments to the effect the US was blaming a flat-footed response by the Europeans for the explosion of cases in the land of the free.

This is hardly the time for the US President to be playing blame games.

Trump's speech, in turn, stole oxygen from the Morrison government's release of its $17.6 billion economic stimulus package.

And all of this played out against an inexorable plunge on the ASX which, by 3pm, was down from its January 21 high by 1880 points; just under 26 per cent.

While it is not yet known if Australia will mirror America's European travel ban, this was being given serious consideration by the end of the day.

So, all things considered, there is a lot to unpack. One big question, even if you aren't directly caught up in the pandemic, is what is going to happen to your superannuation?

On the local front, the news of Canberra's first case has followed a pragmatic and professional approach from ACT health authorities towards this moment.

For well over a week now locals have been being told it was a question of when, not if, the virus would cross our borders.

The announcement seems to have been made in a timely manner. The ACT government deserves approbation for providing as much information as could be reasonably expected without breaching the patient's right to privacy.

We hope this will set the pattern for public communications moving forward. That is the only way to ensure people have all the facts they need to make a fully informed response.

It is of concern that the affected individual does not appear to have been overseas in the last fortnight. This raises the possibility it was the result of local person-to-person transmission.

While the stimulus package announced by the Prime Minister and the Treasurer was not able to stem the rising tide of panic on the ASX, it is to be hoped, when business leaders have a chance to review it more thoroughly, they will find some cause for optimism.

The sheer scale of the response shows just how seriously the Coalition is treating this crisis and how far they are willing to go to keep businesses trading and workers employed.

While the news that support is being made available to casual workers affected by the virus is welcome, the mechanism being used to deliver it appears to be clunky at best.

This may need to be reviewed and tweaked if we are to avoid the risk of infected individuals turning up for work.

The one-off payments of $750 to people receiving social security benefits, including the family tax benefit, will play the same role as the $900 Rudd payments and get money into the economy very quickly.

The slightly more targeted approach, which means our most affluent individuals will miss out, is commendable.

While the measures announced today may not, in themselves, be sufficient to keep the nation out of recession in the months ahead, there is every reason to hope they will soften the impact of the many shocks that are still to come.