Kiwi sharemarkets down after disastrous day for US markets

August 15, 2019

The Dow experienced its biggest drop in almost a year, sparking recession fears.

The Kiwi sharemarkets plunged on opening today, and ended the day down more than a percentage point after a disastrous day for US stocks.

The Dow Jones plummeted 800 points, or three per cent, in its biggest one-day drop in almost a year.

It was panic sparked by recession fears after the markets flashed an alarm bell.

The Trade Minister and the deputy National Party leader spoke about the current economic climate on Breakfast.

There's been a rare flipping of interest rates between long- and short-term bonds.

This hasn't happened in more than a decade, and it's seen as a key recession warning light.

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