NZ dollar flirts with Aussie parity; markets in freefall

Thu, 19 Mar 2020

Markets remain in freefall as investors continue to panic about the long-term impact of covid-19 on the global economy while the kiwi briefly touched parity with the Australian dollar. The Dow Jones Industrial Average was down 8.7 percent at 8am in Wellington, while the Nasdaq was down 6.4 percent and the S&P 500 was down 7.6 percent. The Dow has now reversed all its gains since US President Donald Trump was inaugurated in January 2017. “We now expect global GDP to fall by about 1 percent this year, which would be twice the decline see...

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