NZX50 follows Wall Street's downward spiral

Tue, 17 Mar 2020

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...

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