F&P Healthcare knocked by strong kiwi; covid saps stock market

The S&P/NZX 50 dropped 218.43 points, or 1.8 percent, to 12,251.91, joining a slump across Asia as investor confidence was dented by renewed fears over the recent spike in covid cases and US political uncertainty.

Within the index, 41 stocks fell, six rose, and three were unchanged, while turnover was $183.5 million.

US elections have been a major source of uncertainty for global investors in recent weeks as people question whether American policymakers will reach a deal on extending the covid fiscal stimulus package.

Retailer Kathmandu Holdings, which has operations worldwide, led the local market today, down 3.9 percent at $1.24.