Frothy markets simmer down

Mon, 06 Dec 2021

New Zealand's main share index fell on Monday after highly valued global stocks and cryptocurrencies traded lower over the weekend in anticipation of US rate hikes and in fear of omicron. The S&P/NZX 50 Index fell 78 points, or 0.6%, to 12,597.81. Turnover was $162 million. US markets are ending the year with a small correction triggered by the emergence of the omicron covid variant and the Federal Reserve’s sudden concern about inflation.The S&P 500 has fallen about 3.5% since the end of November, having tracked hi...

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