NZ shares fall as investors face up to inflation 'bogeyman'

The S&P/NZX 50 Index fell 61 points, or half a percent, to 12,831.73. Turnover was $130.8 million.

It was another grim session for global markets overnight as US stocks took another fall,. The S&P 500 has declined on each of the five trading days in 2022 so far.

ANZ’s head of global economics, Brian Martin, said investors have been paring back risk assets as they now expect the US Federal Reserve to raise interest rates in March. 

“Equity markets sold off across the board as inflation concerns and anxiety over future monetary tightening weighed,” he said.