NZX50 follows Wall Street's downward spiral

NZX50 follows Wall Street's downward spiral
Dan Brunskill
The S&P/NZX 50 Index fell more than 5 percent this morning, following a savage selloff on Wall Street and as local investors wait to see what Finance Minister Grant Robertson's support package holds.Wall Street's benchmark indices posted their biggest declines since 1987 overnight as investors start bracing for a global recession due to their lack of confidence in governments' responses to the covid-19 pandemic. Overnight, the Dow Jones Industrial Average fell 12.9 percent, the Nasdaq slumped 12.3 percent and the S&P 500 dropped 12 perc...

More Markets

NZ sharemarket drifts flat as Fed decision looms
Markets Market Close

NZ sharemarket drifts flat as Fed decision looms

The S&P/NZX 50 Index closed down 0.05% or 6.5 points.

If Māui closes, Methanex's future is murky says Fuge
Markets

If Māui closes, Methanex's future is murky says Fuge

A constant state of unease is needed in the energy sector says Contact boss.

Phasing out $6b capital layer unlikely to dent banks’ ratings
Finance

Phasing out $6b capital layer unlikely to dent banks’ ratings

Banks’ credit ratings likely unmoved if Additional Tier 1 capital phased out.