Inflation sends shares sliding

Tue, 12 Apr 2022

New Zealand's benchmark share index fell on Tuesday as investors worried about inflation ahead of the Reserve Bank of NZ’s monetary policy decision tomorrow.The S&P/NZX 50 Index fell 42 points, or 0.4%, to 11,889.17. Turnover was $171 million.Greg Smith, head of retail at Devon Funds, said the technology sector was bearing the brunt of the decline as investors rotated away from interest rate sensitive growth stocks. “While the war has continued in the Ukraine without any real sign of progress on ceasefire negotiations,...

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