NZ shares plunge as country prepares for shutdown
The S&P/NZX50 fell 697.72 points, or 7.6 percent, to 8,98.70. Within the index, 49 stocks fell, and one rose. Turnover was $267.2 million.
The government today ratcheted up its response to the mounting virus outbreak by imposing a national lockdown from 11.59pm Wednesday.
All bars, restaurants, cafes, cinemas, civic amenities and all non-essential businesses will be required to close. For non-essential businesses, working from home is now immediately required, if unable to operate from home, firms must be closed.
Prime Minister Jacinda Ardern acknowledged the shutdown will cause “unprecedented economic and social disruption” but will save “tens of thousands” of lives.
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