NZ shares falter as US economy charges forward

(Image: Getty)

Wed, 07 Sep 2022

New Zealand's headline share index fell on Wednesday following a decline on Wall Street after data showed the US services sector continued to grow during August despite higher interest rates.The S&P/NZX 50 Index fell 50.1 points, or 0.4%, to 11,548.30. Turnover was $136 million.BNZ strategist Nick Smyth said there had been another sell-off of global bonds overnight as the market reacted to US ISM Services index data being stronger than expectedThis prompted investors to predict the US Federal Reserve will hike interest rates by 75 basis...

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