Tuesday, March 18, 2008

New Zealand sharemarket takes a tumble

The NZX 50, which measures the movement in the top 50 stocks in New Zealand, plummeted 2.1 percent to 3429.43 yesterday, in the wake of the weekend's bargain-basement sale of America's fifth-largest investment bank, Bear Stearns, and news of a further interest rate cut by the Federal Reserve.

This means the NZX 50 has fallen by nearly 21 percent since peaking last October, or by $11.4 billion in dollar terms.

The volatility in financial markets yesterday saw the kiwi dollar initially trade at more than US82c, and then plunge US2c to US80.55c.


1 comment:

Make Money Online Jobs said...

You can find real intra day tips and share market tips through our online share market blog and website.

This is having Indian Share Market tips and Techniques.78


Share Market tips

Intra day tips

Google Online Jobs