The New Zealand stock exchange closed today down 2.78 per cent after sharp falls earlier today, but more markets around the world are continuing to suffer from investor concerns about the downgrading of the US credit rating.

Standard & Poor's is warning that New Zealand may face an export-driven slowdown, due to weaker demand or lower export prices.

Update: The NZX-50 has fallen 2.7 per cent today, as smaller investors spooked by global uncertainty, sell out. The ASX opened down 2.2 per cent.

France and Germany have moved to try and head off fresh market turmoil this week, by saying they want action to safeguard Europe's single currency.

This morning's rapid fall in the New Zealand dollar proves recent talk of the kiwi becoming a 'safe haven' currency was hot air, say economists.

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.

New Zealand commodity prices were stable last month, with weakness in logs and dairy products, while kiwifruit prices rose, according to the latest ANZ Commodity Price Index.

When the fangs are bared in the latest US episode of Anna Paquin's True Blood, Bernie will be watching within a few hours.

Higher interest rates and an economic shock could be in store for Kiwis if US debt crisis talks fail.

Provide a photo opportunity with the US President and all common sense seems to go out the window.

The New Zealand dollar soared to a new 25-year-high, passing 87 cents, as speeches by US President Barack Obama and House Speaker John Boehner showed no progress in lifting the debt ceiling.

New Zealand economic growth will accelerate in the next year or two, despite the global economy hitting a soft patch, Westpac's latest quarterly economic review says.

New Zealand's trade surplus was $230m in June, missing forecasts and pushing the kiwi dollar down by almost a third of a cent.