NZ shares join global rout as fears of US recession grow

NZ shares join global rout as fears of US recession grow
The main board was a sea of red with 111 stocks declining. (Image: Getty)
Paul McBeth
New Zealand shares joined a global rout as markets across Asia felt the brunt of Friday’s weak US jobs report. The report stoked fears of a recession in the world’s biggest economy and dented exporters exposed to America, such as Fisher & Paykel Healthcare. The S&P/NZX 50 Index dropped 188.55 points, or 1.5%, to 12,264.49, a two-and-a-half week low. The main board was a sea of red, with 111 stocks declining, 44 unchanged and just 24 gaining. Turnover was $172.3 million, more than July’s daily average value of $137...

More Markets

Smart CEO Anna Scott resigns
Markets

Smart CEO Anna Scott resigns

Anna Scott will take up her new role on October 1.

Forsyth Barr highlights 'hidden gem' at Ebos
Markets

Forsyth Barr highlights 'hidden gem' at Ebos

Both businesses were part of its A$1.16b LifeHealthcare acquisition.

Retailers say unseasonable weather compounded woes
Retail

Retailers say unseasonable weather compounded woes

The Warehouse Group and KMD Brands have both downgraded guidance in recent weeks.