NZ sharemarket fall reflects worried investors

The S&P/NZX 50 Index fell at the opening after a mixed day on Wall Street and then slid further to close at 11,769.4, down 74.99 points or 0.63% after gaining 0.93% the day before.

Trading was quiet, with 16.48 million shares worth $49.98m changing hands, and there were 40 gainers and 75 decliners over the whole market.

Shane Solly, portfolio manager with Harbour Asset Management, said the market has slipped back into a choppy, volatile mode.

“Investors are uncertain and worried about getting stung by the prospect of interest rates going back up and corporate earnings coming in lower than expected,” he said.