Hot inflation sends NZ shares falling

Yet another US data release showed inflation at a 40-year high. (Photo: Adobe Stock)

Fri, 11 Feb 2022

New Zealand shares took another downward turn after data released in the United States showed inflation was still running hot and could trigger a 50-basis point rate hike by the US Federal Reserve in March.The S&P/NZX 50 Index fell 239 points, or 1.9%, to 12,173.78. Turnover was about $150 million.US investors were shocked overnight by stronger than expected inflation data – the headline consumer price index was up 7.5% since last year – which increased expectations for faster rate hikes.One member of the US Federal Reserve comm...

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