Global markets have been following US stock market trends, which investors say has gone down because of worse than expected US inflation rates.
The NZX was down 2.6 percent yesterday, and over the last 100 days has gone down by 20 percent.
Harbour Asset Management Portfolio Manager Shane Solly told Tim Dower the NZX is heavily influenced by the US.
He says the US federal reserve, the US central bank, are likely to put in a point 75 increase in the next few days, which will push interest rates to the highest they've been since 1994.
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