NZ sharemarket hit by global inflation fears
Following a sharp fall on Wall Street, the S&P/NZX 50 Index soon gave up the gains of the day before.
The index recovered with increased trading in the last half-hour matching session and closed at 11,934.31, down 37.61 points or 0.31% after hitting an intraday low of 11,845.04.
There were 62 gainers and 72 decliners on the main board, with 28.56 million shares worth $107.77m changing hands.
The US March consumer price index increased 0.4% representing annual inflation of 3.5%, up from 3.2% in February, compared with forecasts of 0.3% and 3.4%.
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