MARKET CLOSE: Global markets dip as US Fed disappoints

Thu, 17 Sep 2020

New Zealand shares fell in sync with global markets after the US Federal Reserve failed to deliver new stimulus as investors had hoped. The S&P/NZX 50 Index fell 37.58 points, or 0.3 percent, to 11,777.13. Within the index, 16 stocks fell, 23 rose and 11 were unchanged. Turnover was $262.9 million. As was widely expected, the US Federal Open Market Committee held its key rate on hold, but investors seemed disappointed about its view of the economic recovery outlook. Markets across Asia fell, tracking the overnight close on Wall Street...

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