MARKET CLOSE: Stock market selloff returns from holiday

Wed, 09 Sep 2020

New Zealand shares fell in broad-based selling as the tech rout on Wall Street returned after the Labor Day holiday in the United States. The S&P/NZX 50 Index dropped 156 points, or 1.3 percent, to 11,739.11. Within the index, 36 stocks fell, seven rose and seven were unchanged. Turnover was $161.8 million. The correction in US tech stocks, that began last Thursday, continued overnight when US markets reopened after Labor Day and carried through to the local market. “It is hard to know what the cause was other than the market getting a...

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