NZshare market slide continues as it follows world markets' fall

The New Zealand share market has had a third consecutive day of heavy losses leaving it at a near two year low.

The benchmark NZX50 index opened down about 130 points, more than 1 percent, on Tuesday.

It clawed back some losses but still closed down 152 points or 1.3 percent to its lowest level since July 2020.

The index fell 2 percent on Monday and has managed only one positive session in the past week.

Brokers say the New Zealand market has been powerless in the face of the global tide of volatility caused by rising interest rates, inflation, China's Covid disruptions, and the Ukraine war.