News

Global markets​ were higher overnight as Technology stocks led the market with US stocks reclaiming some ground lost to Monday’s steep sell-off. 

Global markets​ fell sharply overnight reflecting the escalation in tit-for-tat tariff hikes by the US and China.

US markets initially dropped sharply following the planned increase in US tariffs on $200 billion worth of Chinese goods by 25%, with ​China vowing to retaliate.

Global markets were ​lower ​overnight as investors await the latest developments in US-China trade relations a day before the United States ​is due to raise tariffs on Chinese goods.

Closer to home, the Reserve Bank of New Zealand cut the OCR to a record low 1.50%.

Global markets sold off sharply overnight led by technology shares, as escalating trade tensions between the United States and China triggered global growth fears and kept investors away from riskier assets.

Stocks across Asia fell sharply after Trump stepped up pressure on China, saying in a tweet that he will hike tariffs on some Chinese goods at the end of the week as trade negotiations are tracking too slowly.

Global markets rose on Friday as stronger-than-expected US job growth in April coupled with muted wage gains left investors upbeat about the outlook for the US economy and interest rates.

Global markets were ​lower for a second day following the Federal Reserve’s latest interest rate move signal, with investors awaiting Friday’s US employment data report and news on trade talks. ​