New Zealand markets closed
  • Business
    Australian Associated Press

    Wall Street falls on US recession concerns

    Wall Street's main indexes have all tumbled to close well down as rattled investors continued to reposition themselves amid fears the US Federal Reserve's hawkish rate policy will help tip the country's economy into recession.The Dow narrowly avoided ending more than 20 per cent lower than its January 4 record all-time closing peak of 36,799.

  • Business
    Australian Associated Press

    $1.7b 'clean nickel' mine planned for WA

    OZ Minerals will go ahead with a big copper-nickel mine in Western Australia to support the booming electric vehicle industry after receiving permission from the Indigenous landowners.7 billion West Musgrave project, 30km south of Jameson/ Mantamaru, will create 1500 jobs during construction and around 400 during ongoing operations.

  • Business
    Australian Associated Press

    Stocks hit two-year low

    Stocks have hit two-year lows and bonds faced an eighth weekly loss, as investors digested the prospect of a far more aggressive rise in US interest rates.Currency markets meanwhile remained volatile after Japan's intervention to prop up the yen.

  • Business
    Australian Associated Press

    Wall Street dips as tech shares slide

    The Nasdaq and S&P; 500 have closed lower, falling for a third straight session as investors reacted to the Federal Reserve's latest aggressive move to rein in inflation by selling growth stocks including technology companies.The Fed lifted rates by an expected 75 basis points on Wednesday and signalled a longer trajectory for policy rates than markets had priced in, fuelling fears of further volatility in stock and bond trading in a year that has already featured bear markets in both asset clas