Wall Street drops; NZX follows; But Spark, Port of Tauranga gain
The S&P/NZX 50 index fell 95.33 points, or 1.1 percent, to 8,861.52. Within the index, 29 stocks fell, 10 were unchanged and 11 rose. Turnover was modest at $100.5 million.
US stocks fell for a second day amid signs of slowing tech growth and a sharp fall for Goldman Sachs after Malaysia said it would seek full refunds from any fraudulent bond deals the bank conducted in relation to the country’s sovereign wealth fund.
The Dow Jones Industrial Average fell 2.3 percent, while the S&P 500 Index fell by almost 2 percent.
Hamilton Hindin Greene director Grant Williamson said the local market had performed quite well today, particularly given the weaker performance in Australia. The S&P/ASX 200 index was recently down 1.7 percent at 5840.70.
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