NZ shares drop 1.5% as Wall Street closes in correction territory

By Sophie Boot
Feb. 9 (BusinessDesk) - New Zealand shares dropped this morning as US markets enter correction territory, where stocks fall more than 10 percent from a peak, as the prospect of higher interest rates prompts investors to rethink their strategies.
The S&P/NZX50 fell 121.9 points, or 1.5 percent, to 8,055.24 as at 10.30am, on turnover of $39 million.
New Zealand's market is the first to open in the world, and follows a lower close on Wall Street, with the Dow Jones Industrial Average down 4.2 percent and the Nasdaq 100 dro...
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