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NZ sharemarket drops 0.4% as property stocks tumble
['Graham Skellern']
BusinessDesk | NZ breaking news and commentary on business, NZX and politics
(Image: Getty)Inflationary pressures were the talk of a pensive New Zealand sharemarket, sending property stocks tumbling for the second day running.The S&P/NZX 50 Index fell sharply at lunchtime and closed at 13,348.61, down 64.26 points or 0.48%.
The index has now fallen in six of the last nine trading days and is down more than 1.8% for the year to date.There were 45 gainers and 86 decliners on the main board, with increased volumes reaching 38.7 million share transactions worth $157.1m'Early stages of the economic recovery'In the US, the...