The New Zealand sharemarket headed lower in early trading, after a tumble by stocks in the United States at the end of last week.Around 10.20am today, the benchmark NZX-50 index was down 10.73 points to 3275.39, after a 3.9-point gain on Friday.Fletcher B
The New Zealand sharemarket headed lower in early trading, after a tumble by stocks in the United States at the end of last week.
Around 10.20am today, the benchmark NZX-50 index was down 10.73 points to 3275.39, after a 3.9-point gain on Friday.
Fletcher Building shares fell 7c to 834, Hellaby Holdings was down 3c to 165, Sky TV lost 3c to 500, Trustpower was down 3c to 737, and Rakon dropped 3c to 103.
Early rises were recorded by Pike River Coal, up 4.3c to 114, Steel&Tube up 4c to 267, and Restaurant Brands, which lifted 2c to 235.
In the US, stocks tumbled on Friday (local time) to close out the worst week since January as news of a criminal probe into Goldman Sachs unnerved investors already anxious about the prospects for heavy regulation from Washington.
The Dow Jones industrial average fell 1.4 percent to 11,008.61, the Standard&Poor's 500 Index lost 1.7 percent to 1186.69, and the Nasdaq Composite Index dropped 2 percent to 2461.19.
For the week, the Dow fell 1.2 percent, the S&P 500 lost 2.5 percent, and the Nasdaq dropped 2.7 percent.
