Experts say the NZ stock exchange will not be taking a hammering when it opens tomorrow morning despite shockwaves from the US.

The New Zealand dollar plummeted as a global market rout spooked traders into selling the kiwi.

Australian and Japanese sharemarkets have plunged more than 4pc on opening, after a rough night on European and US exchanges. The NZX-50 is down 2.4pc.

The New Zealand Stock Exchange has fallen to its lowest level since December, falling 2.5 per cent this morning after a global slump in world equity markets.

The New Zealand dollar plummeted below US84c as world investors fled for safe havens overnight.

Barack Obama says the debt ceiling bill is a first step toward ensuring the US lives within its means but more was needed...

The New Zealand dollar fell below 87 US cents on the back of weaker equity markets as investors refocused their attention on the stumbling US economy and Europe's sovereign debt crisis.

An agreement on the US debt ceiling did little to stem investors' concern overnight that the world's largest economy is faltering, which will hurt corporate earnings down the road.

Kathmandu said full-year pretax earnings rose between 31 per cent and 36 per cent on new store openings, favourable weather and better inventory management.

Prime Minister John Key has acknowledged the high currency is tough for exporters, but said intervention by the Reserve Bank was unlikely to be successful.