NZ sharemarket rocked by US inflation data
The S&P/NZX 50 Index initially held up over the morning session but fell during the afternoon to close down 141.34 points, or 1.18%, at 11,805.
There were 93 decliners and 42 gainers over the whole market on volumes of 27.52 million share transactions worth $111.78m.
Harbour Asset Management portfolio manager Shane Solly said plenty of factors are in play with the local market taking its main reading from offshore news
. “We saw a busy night with slower US GDP growth and higher inflation raising question marks about whether the narrative of a robust, goldilocks-style US economy has run its course.”
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