MARKET CLOSE: NZ shares fall from record as bond inversion triggers global sell-off

Mon, 25 Mar 2019

By Paul McBeth March 25 (BusinessDesk) - New Zealand shares joined a global decline as investors sold off equities when long-term US interest rates fell below shorter-dated debt, a technical signal that may indicate an approaching recession. Stocks trading near records, such as Meridian Energy and Contact Energy, fell. The S&P/NZX 50 Index dropped 31.68 points, or 0.3 percent, to 9,519.31. Within the index, 36 stocks fell, eight gained, and six were unchanged. Turnover was quieter than usual at $90.7 million. Stocks across Asia follo...

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