Wake Up Call: Stocks slump; Italy blocks vaccine shipments to Australia

US stocks slumped as much as 2% in the last two hours of trade.

Fri, 05 Mar 2021

Summary New Zealand’s stock market is set for another tumble this morning as US stocks fell in disappointment at comments from US Federal Reserve Chairman Jerome Powell that did not signal fresh intervention to lower global interest rates. US, Australian and New Zealand bond yields have also risen sharply again in the past 24 hours as the battle of wills continues between inflation hawks and central banks trying to run loose policy. Elsewhere, watch out for an expected return to level two in Auckland later this afternoon after a special c...

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