Bear Tuesday: NZ shares fall 2% at open

Governments and central banks around the world provided enormous financial support to the global economy. (Image: Steven Cordes on Unsplash)

Dan Brunskill

Tue, 14 Jun 2022

New Zealand’s benchmark stock index dropped 2% when the market opened this morning, after already dropping 2% yesterday, as global markets tumbled on inflation fears. The rout follows a tumultuous Monday on Wall Street as investors rapidly sold positions in assets across the board, as central banks begin to deflate the pandemic-era asset bubble.The S&P 500 Index fell almost 4% overnight and the Nasdaq Composite Index dropped 4.7% – both are in bear market territory, down 22% and 33% year-to-date, respectively.Governments an...

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