Business News
New Zealand stock market down over 2 per cent
May 21, 2010, 8:04 GMT
Wellington - The New Zealand stock market followed plunging global markets Friday, with the benchmark NZX-50 index shedding 61 points to end the day at 3,050, a fall of 2.01 per cent.
The outlook for the local economy had seemed to improve Thursday, as the government announced a budget which included cuts in personal income tax rates across the board.
But the market's confidence was dented Friday by international concerns over Greece's debt crisis and worse-than-expected economic data out of the United States, analysts said.
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