The local sharemarket ended the week in the red amid heightened concerns about the spread of the Covid-19 coronavirus.
Photo: Supplied / NZX
The benchmark NZX Top 50 Index recovered some of its losses, but still ended down 1.8 percent for the day, following a volatile session in the United States and ongoing weakness in Australia and the rest of the major Asian markets.
Oil prices also fell due amid concerns that non-OPEC oil producers might not agree to cut their output, as global energy demand is weakening.
More volatility is expected overnight as the spread of the coronavirus is expected to put more downward pressure on global economic growth.
Meanwhile, the dollar is holding steady around 63 US cents and 95.6 Australian.