Cautious trading follows week of share market turmoil

Investors worried that interest rates were moving up and the housing market was slowing down. (Image: Getty)

Fri, 17 Jun 2022

New Zealand’s benchmark index had a slightly subdued end of the week after yesterday’s US Federal Reserve’s largest interest rate increase in almost 30 years made investors take flight at the prospect of future hikes.It’s been a rocky week overall for NZ shares because earlier in the week the index sank 2.6% before picking up some ground on Wednesday and finding a skip in its step yesterday.It struggled to retain that sparkle this morning as the S&P/NZX 50 dropped almost 2% in its first hour of trading. But it slowly...

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