March 16, 2020 / 9:31 PM / 18 days ago

Australian shares set to open lower tracking Wall St; NZ slides

    March 17 (Reuters) - Australian shares were poised to open
lower on Tuesday, tracking sharp losses on Wall Street as the
Federal Reserve's second emergency rate cut in as many weeks
failed to quell fears of a coronavirus-induced recession.
    The local share price index futures          dropped 4.1%, a
163-point discount to the underlying S&P/ASX 200 index        
close. The benchmark sunk 9.7% on Monday in its biggest fall
since 1987. 
    New Zealand's benchmark S&P/NZX 50 index         slid 4.4%
in early trade. 
    

 (Reporting by A K Pranav in Bengaluru; Editing by Sandra Maler)
  
 
 
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