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The Markets

Frothy markets simmer down

Monday 6th of December 2021

The S&P/NZX 50 Index fell 78 points, or 0.6%, to 12,597.81. Turnover was $162 million.

US markets are ending the year with a small correction triggered by the emergence of the omicron covid variant and the Federal Reserve’s sudden concern about inflation.

The S&P 500 has fallen about 3.5% since the end of November, having tracked higher virtually all year long.

Sam Trethewey, a portfolio manager at Milford Asset Management, said there was something of a “washout” happening in global markets.

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