Markets Market Close

Cautious trading follows week of share market turmoil

Ella Somers
Fri, 17 Jun 2022

Trainee reporter
funded through
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)
Ella Somers
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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