NZ market feels effects of sudden Wall Street sell-off

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The New Zealand market fell today in line with weakness sweeping global markets.

Stock market exchange graph price drop with red numbers investment lose of business financial digital background / C

Photo: 123RF

The NZX Top 50 Index is a sea of red following a sudden sell-off on Wall Street overnight, as delays in the manufacture of coronavirus vaccines shook investor optimism about an early recovery for the global economy.

The local index ended down just over 2 percent.

The New Zealand dollar dropped about a cent against the US dollar – trading at 71.4 US cents, 93.6 Australian and 52.2 pence.

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