NZ shares drop 2% in early trading as US markets recover

Tue, 06 Feb 2018

By Sophie Boot Feb. 7 (BusinessDesk) - New Zealand shares fell 2 percent as the market opened, following global sharemarkets lower, although selling was not as severe as some market watchers feared. As at 10:25am, the S&P/NZX50 Index was down 158.6 points, or 1.9 percent, to 8,083.23. WIthin the index, 47 stocks had fallen, with three up, on turnover of about $35 million. The sell-off started on Wall Street on Friday after strong US jobs data fuelled concerns US inflation will accelerate faster. Markets across Europe and Asia followed...

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