Eyes on govt package as volatility pummels markets

Tue, 17 Mar 2020

Volatility remains off the charts with Wall Street down around 9 percent as markets continue to grapple with the ramifications of covid-19. The kiwi dollar meanwhile could be heading to parity against the Aussie.The Dow Jones Industrial average was down 9.6 percent, while the Nasdaq was down 8.9 percent and the S&P 500 was also down 9 percent at 8am in Wellington. Stocks in the US were pounded after the US Federal Reserve’s move to cut rates by 100 basis points and resume money printing yesterday amplified fear about the impact of the...

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