The New Zealand stock exchange has just opened for trading, after a period of extreme volatility in international markets.
Analysts have predicted that the local market will follow the international trends, which saw the Dow Jones suffer its biggest ever drop of 1,175 points before recovering slightly.
Australia's stock market fell 3.2 per cent after Wall Street's 4.6 per cent fall — where gains for the year have been erased in what was the steepest tumble in nearly seven years.
In Asia markets were also hammered with the Nikkei in Japan falling 4.73 per cent and Hong Kong's Hang Seng index last night finishing down 5.11 per cent, pointing to another turbulent session on Wall Street. In early trading, Britain's FTSE 100 dropped 2.05 per cent.
The global drop is expected to hit New Zealand Kiwisaver funds as the market weathers the uncertainty.
