NZX50 slides 2.5% as oil slump spooks investors

Mon, 09 Mar 2020

The S&P/NZX 50 Index dropped 2.5 percent in early afternoon trading as a slump in global oil prices heightened fears over the strength of the international economy at a time when policymakers contend with the covid-19 outbreak. Australia's S&P/ASX 200 index had its worst opening since the global financial crisis in 2008 after the price of crude oil dropped by a fifth - recently at US$36.02 a barrel - after Russia and OPEC failed to agree to production cuts as international travel restrictions sap demand. The NZX50 dropped 2.4...

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