NZX 50 falls 1.53% in biggest single-day drop in six weeks
New Zealand's share market declined sharply, weighed down by losses on Wall Street despite rising local business confidence.
The S&P/NZX 50 Index closed at 13,762.78, down 213.89 points or 1.53%, marking its largest single-day fall in nearly six weeks. The decline came despite an increase in business confidence locally, but was driven by a significant meltdown on Wall Street. The index's previous worst fall was 1.64% on 20 May.
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NZX 50 falls 1.53% as Mainfreight surges
The New Zealand sharemarket had its biggest single-day fall in nearly six weeks despite an increase in business confidence, but was weighed down by a meltdown on Wall Street. The S&P/NZX 50 Index was on a gradual slide from the…