NZ Sharemarket Falls by Over 2.8% Amid Rising Oil Prices and Inflation Fears

The New Zealand sharemarket has experienced its worst trading week in over two years, falling by more than 2.8% due to rising oil prices and inflation concerns.

The S&P/NZX 50 Index declined significantly throughout the day, closing at 13,580.33, a drop of 130.68 points or 0.95%, marking its lowest point in some time.

This decline is largely attributed to the impact of rising oil prices and inflation fears on the market.