MARKET CLOSE: Tourism stocks plunge as border effectively closed

Mon, 16 Mar 2020

New Zealand shares fell as investors reacted to new requirements that all travellers entering the country self-isolate for 14 days.The S&P/NZX fell 349.92 points, or 3.6 percent, to 9,476.94. Within the index, 41 stocks fell, two were unchanged and seven fell. Turnover was $223.5 million.Prime Minister Jacinda Ardern announced the travel restriction on Saturday, describing it as the strictest in the world, as the government tries to flatten the rate of covid-19 outbreak.This morning the Reserve Bank slashed the official cash rate by 75 basi...

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