New Zealand stocks have fallen, after the US set a new tariff on imported goods from Aotearoa. Photo: RNZ / Angus Dreaver
The New Zealand stock market has opened down after a massive sell-off on Wall Street overnight as tariffs spark recession fears in the United States.
The NZX Top 50 Index was down more than 1 percent (1.1%) shortly after the open on Friday, led down by shares in some large companies most exposed to export markets.
President Donald Trump's tariffs were expected to cost New Zealand exporters somewhere in the region of $900 million, with wine, meat, dairy sectors and some manufacturing companies most affected.
Fletcher Building and A2Milk were each down more than 4 percent, while Synlait Milk and ERoad were down more than 3 percent.
More to come...
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