6 May 2022

US stock market tanks overnight, how that will hurt Kiwisaver

From Afternoons, 1:30 pm on 6 May 2022

The US stock market has had its worst day in two years, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite each falling by between 3 and 5 percent.

Bernard Hickey, who produces the daily economics, business, and politics newsletter The Kākā, which you can find on Substack, talks to Jesse about how that dire performance might impact on Kiwisaver investments.

New Zealand's sharemarket has immediately fallen two percent after opening after the Waitangi Day closure. Global markets have been left reeling in the biggest one-day fall on Wall Street since 2011.

Photo: RNZ / Rebekah Parsons-King