New Zealand shares fall as recession fears rise

(Image: Getty)

Mon, 25 Jul 2022

New Zealand's benchmark share index declined on Monday as investors became concerned about growing recession risks facing the global economy.The S&P/NZX 50 Index fell 64.5 points, or 0.6%, to 11,198.68. Turnover was $108 million.BNZ Research said in a note that global recession concerns were pushing long-term interest rates lower last week and the US yield curve is now “deeply inverted” – which is a reliable indicator of recession in the United States.BNZ's head of research, Stephen Toplis, said business and consum...

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