‘A rough day ahead’ as NZ stocks drop in market meltdown from US tariffs

New Zealand share prices dropped sharply and Aussie stocks plunged as the financial fallout from US President Donald Trump’s tariffs announcement continued to spook world markets, with the S&P/NZX50 Index down 3% led by Fisher and Paykel Healthcare. Australian stocks also fell significantly amid fears of a global recession, with the S&P/ASX 200 dropping 6.3%. China retaliated with a 34% duty on US imports, escalating the likelihood of a full-blown trade war and increasing US tariffs on Chinese goods to 76%.

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