NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business / Companies

Wall St falls as China concern grows

BusinessDesk
8 Jul, 2015 08:20 PM3 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

A trader works at the New York Stock Exchange, Monday, July 6, 2015, in New York. Photo / AP

A trader works at the New York Stock Exchange, Monday, July 6, 2015, in New York. Photo / AP

Wall Street fell overnight along with European equities, amid concern about the persistent fire-sale of Chinese stocks and the outlook for the Asian nation's economy.

A 5.9 per cent slump in the Shanghai Composite Index Wednesday brought its plunge since June 12 to 32 per cent, according to Bloomberg.

"The China selloff is spooking the markets," Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York, told Reuters. "The selloff continues unabated despite efforts by People's Bank of China to halt this."

The latest effort to contain selling involves banning holders of more than 5 per cent of a company's stock to sell any shares in the next six months.

Read more:
• Tech glitches sweep US - NYSE, United hit
• China's great stock sell off

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

The Dow Jones Industrial Average dropped 1.1 per cent, the Standard & Poor's 500 Index shed 1.6 per cent, while the Nasdaq Composite Index slid 1.8 per cent. Trading on the New York Stock Exchange resumed in late afternoon after the NYSE was forced to shut down its main market for more than three hours because of a computer malfunction. It was a technical glitch.

Slides in shares of Caterpillar and those of American Express, last trading 2.4 per cent and 2.2 per cent lower respectively, dragged the Dow down.

Minutes from last month's Federal Open Market Committee meeting showed policy makers share investors' concerns on China, as well as on Greece, which officially restarted negotiations with its international creditors by asking for a new bailout.

Advertisement
Advertise with NZME.

"Several mentioned their uncertainty about whether Greece and its official creditors would reach an agreement and about the likely pace of economic growth abroad, particularly in China and other emerging market economies," the minutes from the June 16-17 meeting showed.

Most policy makers did not think a hike in US interest rates was warranted yet.

"Most participants judged that the conditions for policy firming had not yet been achieved; a number of them cautioned against a premature decision," the minutes showed. "Many participants [needed] additional information indicating that economic growth was strengthening, that labour market conditions were continuing to improve, and that inflation was moving back toward the Committee's objective."

Investors will scrutinise Friday's speech by Fed Chair Janet Yellen, who is also set to deliver her semi-annual testimony to Congress next week.

Discover more

Companies

Wall St up - Nasdaq climbs to new record

18 Jun 08:00 PM
Business

The photo that captures Greece's pain

18 Jun 10:18 PM
Companies

Wall St up as Greece, US deals bolster mood

22 Jun 07:40 PM
Companies

World shares consolidate overnight

23 Jun 08:20 PM

Europe's Stoxx 600 Index ended the day marginally higher from the previous close, up just under 0.1 per cent. Germany's DAX gained 0.7 per cent, while France's CAC 40 Index climbed 0.8 per cent, and the UK's FTSE 100 Index rose 0.9 per cent.

Greece formally requested a three-year loan.

"I want to inform you that the last chance procedure has just started," European Council President Donald Tusk told the European Parliament. "[Eurogroup] President [Jeroen] Dijsselbloem has received, while we are debating here, the formal Greek request for the ESM programme, as we agreed [on Tuesday]."

Oil dropped, after the US Energy Information Administration unexpectedly said inventories rose last week for crude, petrol and distillates.

"We were not supposed to be building crude inventories in early July," David Thompson, executive vice-president at Powerhouse, an energy-specialised

Save

    Share this article

Latest from Companies

Premium
Airlines

Pilot sacked over Covid-19 vaccine wins Employment Court case

08 Jul 07:09 AM
Premium
Manufacturing

On The Up: Freeze-dried food maker aims for major growth with Rebel Sport, Foodstuffs deals

08 Jul 07:00 AM
Premium
Companies

$30 billion blast-off: Why Rocket Lab just hit an all-time high

08 Jul 03:33 AM

From early mornings to easy living

sponsored
Advertisement
Advertise with NZME.

Latest from Companies

Premium
Pilot sacked over Covid-19 vaccine wins Employment Court case

Pilot sacked over Covid-19 vaccine wins Employment Court case

08 Jul 07:09 AM

'Great' pilot was sacked despite doctor's vaccine advice, request for Novavax.

Premium
On The Up: Freeze-dried food maker aims for major growth with Rebel Sport, Foodstuffs deals

On The Up: Freeze-dried food maker aims for major growth with Rebel Sport, Foodstuffs deals

08 Jul 07:00 AM
Premium
$30 billion blast-off: Why Rocket Lab just hit an all-time high

$30 billion blast-off: Why Rocket Lab just hit an all-time high

08 Jul 03:33 AM
Uber grilled in Supreme Court on the status of its drivers

Uber grilled in Supreme Court on the status of its drivers

08 Jul 03:23 AM
Solar bat monitors uncover secrets of Auckland’s night sky
sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP