MARKET CLOSE: Sharpest drop on NZX in months

Fri, 04 Sep 2020

New Zealand's benchmark stock index had its biggest fall in almost two months after Wall Street saw a sharp correction overnight. Growth stocks with US exposure led the market lower. The S&P/NZX 50 Index fell 230.74 points, or 1.9 percent, to 11,824.31. Within the index, 37 stocks fell, 10 rose and three were unchanged. Turnover was $152.5 million. Technology stocks that have been driving US markets to record highs hit reverse overnight, with the Nasdaq Composite index down almost 5 percent in its biggest fall since June. Asian marke...

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