NZ shares fall as fears of a second covid wave rise

The S&P/NZX 50 Index dropped 96.28 points, or 0.9 percent, to 11,158.46. Within the index, 24 stocks fell, 18 rose, and eight were unchanged. Turnover was $115.8 million.

Investors, once excited by economies reopening, are becoming increasingly nervous about the apparent link between communities reopening and renewed outbreaks. 

While China closes parts of Beijing due to an unexpected flare-up of 200 new cases, other parts of the world continue to ease lockdowns.

Recent data shows rising covid-19 cases in parts of the United States. For the first time since the start of May more than 30,000 new cases have been recorded in a single day in the US.