S&P/NZX 50 opens down more than 2%, NZD under pressure

The US-initiated trade war continues to cause market chaos. (Image: Getty)

Mon, 07 Apr 2025

The S&P/NZX 50 index fell more than 2% shortly after the open, and the New Zealand dollar remained under pressure after the escalation of a global trade war wiped almost $16 trillion from Wall Street. US President Donald Trump’s sweeping tariffs kicked off retaliatory measures, with China imposing 34% reciprocal tariffs.“This practice of the US is not in line with international trade rules, seriously undermines China's legitimate rights and interests, and is a typical unilateral bullying practice,” a...

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