MARKET CLOSE: NZX50 slumps 3% as investors flee for safe havens

Mon, 09 Mar 2020

The S&P/NZX 50 Index dropped almost 3 percent as investors fled the local stock market for safe havens leaving dividends behind, after oil prices collapsed following the OPEC meeting on Friday. The benchmark index decreased 334.09 points, or 2.9 percent, to 11,091.81. Within the index, 46 stocks fell, two rose, and two were unchanged. Turnover was $241.8 million.Stock markets across Asia were pummelled today as investors reacted to the news that Russia and OPEC had failed to agree to oil production cuts, leading to the oil price to dro...

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