Market Close: NZ shares fall in tech sell-off

Tue, 05 Oct 2021

New Zealand's main share index tumbled on Tuesday, following global tech stocks lower ahead of the Reserve Bank of New Zealand’s interest rate decision on Wednesday afternoon. The S&P/NZX 50 Index fell 137 points, or 1%, to 13,199.99. Turnover was $157 million.Growth-sensitive tech shares took a battering overnight as investors sold the highly-priced equities in an effort to reduce the risk in their portfolios.All three key US indices fell significantly overnight, with the tech-heavy Nasdaq dropping more than 2%. Asia/Pa...

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