Sharemarket posts biggest weekly slide since 2022 as oil spikes, rate hikes feared

Sharemarket posts biggest weekly slide since 2022 as oil spikes, rate hikes feared

New Zealand’s S&P/NZX 50 index posted its steepest weekly decline in four years as the latest oil price spike stokes fears that central banks will need to raise interest rates ahead of key US inflation figures for the Federal Reserve’s next move.