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Stock impact report

NZ, Australia shares fall as emergency rate cuts worsen virus fears [Reuters]

BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP) 
US:NYSE Investor Relations: bhp.com/investor-centre
Company Research Source: Reuters
NZ, Australia shares fall as emergency rate cuts worsen virus fears * NZ central bank interest slashes rates by 75 bps * Cochlear declines the most in Australia * Energy stocks weight on the ASX benchmark By Pranav A K March 16 (Reuters) - Australia and New Zealand shares fell sharply on Monday as emergency rate cuts in the United States and New Zealand raised worries about bigger-than-expected economic fallout from the coronavirus pandemic. The Reserve Bank of New Zealand slashed the official cash rate by 75 basis points to an all-time low of 0.25%, as it prepared for a “significant” impact on the economy from the worsening virus outbreak. Despite the move, the benchmark S&P/NZX 50 index was down 2.4%, or 239.33 points, at 9,587.53 by 0041 GMT. The U.S. Federal Reserve also surprised markets on Sunday with a 100-basis-point interest rate cut to near zero and said it would expand its balance sheet by at least $700 billion in the coming weeks. “A mixture of the Fed’s emergency move onc Show less Read more
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