31 Dec 2012

Stocks down further

8:34 am on 31 December 2012

Stocks in the United States fell for a fifth consecutive day on Friday, dropping 1% as the country edges closer to the fiscal cliff with no deal in sight.

The Dow Jones Index was down 158 points, or 1.2%, to 12,938. The NasdaqComposite was down 25 points, or 0.9%, to 2960.

The Australian 200 index was up 23 points to 4671 and the NZX 50 index closed up 15 points at 4081.

The New Zealand dollar on Monday was trading at 81.94 US cents, 79.1 Australian cents, 50.70 pence, 70.23 yen and 0.619 euro. The Trade Weighted Index was at 73.58.

Gold was trading at $US1036 per ounce.