NZX50 drops 1.6% as Wall Street slides on rising inflation expectations

Sun, 04 Feb 2018

By Rebecca Howard Feb. 5 (BusinessDesk) - New Zealand shares took an early tumble, tracking a sharp fall on Wall Street on Friday after strong US jobs data fuelled concerns US inflation will accelerate faster. The benchmark S&P/NZX50 Index fell 131.8 points, or 1.6 percent, to 8,283.48 as at 11.25am in Wellington, following Wall Street lower after the Dow Jones Industrial Average slid 2.5 percent, the Standard & Poor’s 500 Index dropped 2.1 percent, and the Nasdaq Composite Index retreated 2 percent. A Labor Department report showed U...

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