NZ shares flatline as oil prices plunge

Tue, 15 Mar 2022

New Zealand shares were mixed on Tuesday ahead of an interest rate hike in the United States tomorrow and as oil prices dropped.The S&P/NZX 50 Index fell 4 points, essentially 0%, to 11,801.73. Turnover was reasonable at $185 million.Technology and energy stocks were weaker in US markets overnight as bond yields climbed and oil prices plunged.Oil prices dropped around 7% to trade near US$100 (NZ$148) a barrel, down almost 30% from a week ago at the peak of the panic.Investors were watching ceasefire talks between Russia and Ukraine while wa...

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