Markets

NZ stocks lose $55 billion of value in six months

Dan Brunskill
Fri, 01 Jul 2022

NZ stocks lose $55 billion of value in six months
Stocks, crypto and property prices have all plunged this year as the asset bubble burst. (Photo: Getty)
Dan Brunskill
Fri, 01 Jul 2022
Since the beginning of 2022, New Zealand-listed companies have lost more than $55 billion in value as inflation burst the asset price bubble created by monetary policy stimulus.It’s not just the equity market that’s in decline, of course, cryptocurrencies have collapsed from a US$2.2 trillion (NZ$3.5t) in value to just US$890b today.The latest Real Estate Institute house price index showed New Zealanders' favourite investment had dropped 7.7% from its peak by the end of May.CoreLogic said the total value of residential real esta...

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