Response to US credit downgrade

NZ market tumbles in wake of US credit downgrade

8 August, 10.30 am

New Zealand stocks tumbled to an 11 month low, as already jittery investors move to sharply limit their risk exposure after Standard & Poor's slashed the United States' credit rating over the weekend.

The NZX 50 Index fell 89.01 points, or 2.7 percent, to 3,187.48 in the first 30-minutes of trading, its lowest level since September 30, 2010. Within the index, 43 stocks fell, seven were unchanged, and no stocks rose.....

The New Zealand dollar rose against the greenback this morning, which has further struggled since the credit downgrade. The kiwi recently traded at 84.14 US cents, up from 83.74 cents on Friday in New York.


You can trace the volatlity in the New Zealand dollar.

Meanwhile the price of gold goes up - and up...