Global jitters send kiwi dollar and shares lower
Better than expected United States jobs data has done little to reassure shaky world stock markets
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Better than expected United States jobs data has done little to reassure shaky world stock markets. Data released overnight showed July US jobless down to 9.1% from 9.2% in June.
But bourses around the world have fallen sharply on investor jitters over the Eurozone debt crisis and the weakening US economic recovery.
The New York index suffered its worst drop in three years.
US President Barack Obama has spoken out in an attempt to shore up the markets, saying last week's last minute Congressional deal to lift the country's borrowing limit, things will improve.
Locally, the New Zealand stock market fell sharply yesterday, ending the day down 3%, or 100 points, at 3276.
The currency also took a hit, with the kiwi falling about to just above 84USc.
NBR staff
Sat, 06 Aug 2011
Sat, 06 Aug 2011
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Global jitters send kiwi dollar and shares lower
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