NZ sharemarket plunges to lowest level in six months

Investors are worried about the state of the economy. (Image: Getty)

Wed, 15 May 2024

The New Zealand sharemarket plunged to its lowest level in six months as the weak economy continues to dampen investors’ appetite.After a steady morning, the S&P/NZX 50 Index fell sharply in the afternoon and closed at 11,525.88, down 92.21 points or 0.79%. The index has already fallen nearly 2% this week and is down 2.14% for the year to date. The previous lowest level was 11,475.77 points on Dec 13.Matt Goodson, managing director of Salt Funds Management, said following The Warehouse, Tourism Holdings, and Fletcher Building ear...

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