NZ shares fall as investors worry about virus spread

The S&P/NZX 50 Index declined 30.89 points, or 0.3 percent, to 11,553.16. Within the index, 30 stocks fell, 13 rose, and seven were unchanged. Turnover was $113.6 million.

The benchmark fell with the Australian market as coronavirus cases in the southeast state of Victoria continued to rise.

Investors have priced the market for a quick recovery, but authorities have warned that the surge of cases could take weeks to stamp out at considerable cost to the economy.

The US states of Florida, California and Texas continue to see record number of infections each day.