US banking and NZ inflation worries causes sharemarket slump

US banking and NZ inflation worries causes sharemarket slump
(Image: Getty)
Graham Skellern
The New Zealand sharemarket slumped more than 1% as banking concerns in the United States and inflation worries here again rippled to the surface.The S&P/NZX 50 Index continued to slide all day and closed at 11,907.99, down 129.82 points or 1.08% – the biggest single-day fall in five weeks. The index has now risen 3.8% so far this year.There were 112 decliners and 23 gainers over the whole market on volume of 29.76 million share transactions worth $107.57m.The major US indices fell sharply overnight as investors questioned the stabili...

More Markets

Volatile stocks drive NZ sharemarket down nearly 0.5%
Markets Market Close

Volatile stocks drive NZ sharemarket down nearly 0.5%

The S&P/NZX 50 Index closed at 12.844.59, declining 60.45 points or 0.47%.

Graham Skellern 05 Feb 2025
Lyttelton Port result improves but CEO says it's not enough
Infrastructure

Lyttelton Port result improves but CEO says it's not enough

The CEO says Lyttelton Port does not generate sufficient returns on its capital base. 

Rebecca Howard 05 Feb 2025
Sky CFO Ciara McGuigan resigns in surprise departure
Markets

Sky CFO Ciara McGuigan resigns in surprise departure

Embattled broadcaster Sky TV is losing its chief financial officer with immediate effect.The pay-TV operator, facing a barrage of customer anger over poor satellite reception in recent weeks, announced the resignation of Ciara McGuigan on Wednesday.Her departure, effective immedi...

Staff reporters 05 Feb 2025
Ex-contractors reveal Harvey Norman business model pressures
Retail Exclusive

Ex-contractors reveal Harvey Norman business model pressures

The promise of big money can require extreme flexibility from ‘proprietors’.

Gregor Thompson 05 Feb 2025