NZX50 drops 1% as North Korean tension escalates, local uncertainty rises

Thu, 10 Aug 2017

By Sophie Boot Aug. 11 (BusinessDesk) - The New Zealand benchmark stock index dropped 1 percent this morning as fear about nuclear tensions between North Korea and the United States dragged global equities down. An hour after trading opened this morning, the S&P/NZX50 index was down 79.2 points, or 1 percent, to 7,710.51. Some 40 of the stocks in the index had fallen, with seven unchanged and just three up. Equities slid overnight as tension continued to escalate, with US President Donald Trump threatening that if the North Korean reg...

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