ZB

NZ shares weaken after tech stocks drag Wall St lower

Author
NZ Herald ,
Publish Date
Wed, 27 Apr 2022, 11:37am
(Photo / File)
(Photo / File)

NZ shares weaken after tech stocks drag Wall St lower

Author
NZ Herald ,
Publish Date
Wed, 27 Apr 2022, 11:37am

The New Zealand sharemarket was down by just under one per cent in morning trade after nervousness about US tech sector earnings drove Wall Street share prices sharply lower.

After an hour's trading, the S&P/NZX50 index was down 99 points or 0.84 per cent at 11,713.

US tech stocks were sharply weaker, pushing the Nasdaq Composite index down by 3.95 per cent to its lowest level in more than a year.

The broader S&P index was 2.8 per cent down.

At today's level, the New Zealand sharemarket is 13 per cent down from its January 2021 record high of 13,558.2.

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