Sharemarkets dive, oil price war, businesses worry

Fears over Covid-19 and a huge plunge in oil prices due to oversupply have hit global sharemarkets with billions of wiped from the market value of companies around the world. Overnight European stocks fell 6 percent and a few hours ago the New York Stock Exchange opened with a 7% fall on the Dow-Jones Average. - triggering an almost-immediate trading halt. The government has moved to assist businesses worst impacted by COVID 19, outlining the beginnings of a package which will include a targeted wage subsidy scheme. Yesterday the Finance Minister met with the major bank CEOs to discuss what they were doing to support their business and personal customers. Kathryn talks with the chief executive of Business NZ Kirk Hope and Westpac Senior economist Michael Gordon.