December 17, 2018 / 9:38 PM / a year ago

Australian shares set to plunge on Wall Street's slump; NZ down

    Dec 18 (Reuters) - Australian shares are set for a sharp
fall on Tuesday, as Wall Street tumbled on concerns of slowing
global growth ahead of the U.S. Federal Reserve's highly
anticipated rate decision. 
    Wall Street's three major indices each slid more than 2
percent on Monday, with the benchmark S&P 500 closing at its
lowest level in 14 months.     
    The Australian share price index futures          fell 1.6
percent, a 78.3-point discount to the underlying S&P/ASX 200
index         close. 
    The benchmark had pared losses on Monday to end 1 percent
    New Zealand's benchmark S&P/NZX 50 index         fell 0.4
percent to 8,711.71 in early trade.      

 (Reporting by Nikhil Kurian Nainan in Bengaluru;
Editing by Andrew Cawthorne)
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