NZX 50 falls 4.5% as Wall St slumps on waning optimism

Fri, 12 Jun 2020

The S&P/NZX 50 Index dropped in early trading after economic projections this week dashed investor optimism that the easing of lockdowns was reviving global activity and would be reflected in improved company earnings. The benchmark index sank 4.5 percent to 10,654.45, following a weak lead on Wall Street where the S&P 500, Dow Jones Industrial Average, and Nasdaq were all down more than 5 percent. Markets started turning earlier in the week on downbeat outlooks from the World Bank, the Organisation for Economic Cooperation and Developm...

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