Cool heads needed in market turmoil - fund managers

Tue, 10 Mar 2020

Local fund managers aren't rushing out the door in the latest bout of market turmoil and at least one is using it as a chance to buy cheap. New Zealand's S&P/NZX 50 Index joined the rout on Wall Street, falling almost 5 percent when it opened this morning. However, it clawed back some of those earlier losses when Australia's S&P/ASX 200 Index opened with a more modest decline of 0.3 percent. The NZX50 was down 3.4 percent at 10,714.46 at 12.30pm in Wellington. US stocks fell hard enough to trigger the 15-minute circuit breaker...

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