New Zealand’s stock market plummets on warnings of tough times ahead.Kiwi dollar hits seven-month low

Andrew Patterson is a newsroom market editor and has worked for decades as a financial journalist, radio host and editor for ABC, Radio Live and NBR in Australia.

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Disappointing results from market powerhouses Mainfreight and F&P Healthcare, along with an unexpected decision on the Reserve Bank’s interest rate and growing fears of a possible US debt default, pushed investors to exit.

Investors have been hit by the New Zealand stock market, which fell more than 2% in its worst week since September.