(Bloomberg) -- New Zealand shares entered bear market territory after U.S. stocks posted their worst drop since 1987.
The S&P/NZX 50 Gross Index tumbled as much as 6.9% in early trading and is set to close at least 20% below its Feb. 21 record. U.S. equities slid as investors signaled that actions by the Federal Reserve and President Donald Trump won’t be enough to offset the impact of the coronavirus.
To contact the reporter on this story: Jackie Edwards in Sydney at jedwards160@bloomberg.net
To contact the editors responsible for this story: Lianting Tu at ltu4@bloomberg.net, Tim Smith
