Newly-discovered asteroid 2012 KT42 is flying past Earth today (May 29th) only ~14,000 km above the planet's surface. This means 2012 KT42 will actually fly inside the Clark Belt of geosynchronous satellites. The 3- to 10-meter wide asteroid ranks # 6 on the top 20 list of closest-approachers to Earth. According to the asteroid's orbit, there is no danger of a collision. Even if it did hit, this space rock is too small to cause significant damage. It would likely disintegrate almost entirely in the atmosphere, peppering the ground below with relatively small meteorites.