NZ market likely to accelerate losses as covid-19 jitters continue

Tue, 10 Mar 2020

US markets plunged and New Zealand will likely extend its losses after it shed almost 3 percent yesterday as ongoing concern about the spread of covid-19 as well as oil market turbulence continue to roil markets.“Risk markets remain under intense pressure, with equities a sea of red,” said ANZ Bank senior economist Miles Workman.US trading was halted immediately after the opening as the steep fall in the S&P 500 triggered an automatic 15-minute cutout originally put in place to avoid a repeat of the 'Black Monday' crash in 1987, when the Do...

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