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  • Stock market jitters

    The US stock market took a severe loss last week as the Nasdaq and the Dow each suffered their largest point drops ever - and the repercussions are being felt here in New Zealand this week. The Nasdaq fell 355.72, a whopping 9.67%, to 3321.06. The Dow dropped 616.23 points, or 5.64%, to 10307.32. Last Friday's nosedive capped four previous days of losses for the Nasdaq, bringing it to its lowest level in months. The index is down 32% from its all-time high, a setback far larger than the 20% figure used to define a bear market.