The New Zealand sharemarket clawed back most of Monday’s losses with a jump in Fisher & Paykel Healthcare's share price, but it remained under the shadow of interest rate moves. But of more fundamental importance was rising interest rates, said Greg Main, a director at Jarden. As inflation rises, interest rates go up, giving investors an alternative to stocks as returns from money in the bank also rise. The S&P 500 fell 0.5 per cent to 3821.35 after gaining 1 per cent earlier. The Dow Jones Industrial Average rose 1 per cent to 31,802.44, and the tech-heavy Nasdaq lost 2.4 per cent to 12,609.16.

Source: Stuff March 09, 2021 05:15 UTC