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The Dominion

Sharemarket – Reserve Bank Warned – Neuterthon – GE Inquiry – Turbulence Injures – Inside Political Hedalines – Editorial: Sharemarket

SHARE MARKET: The Dominion leads today with a report that sharemarket investors were hammered by a loss of $2.3 billion yesterday when the market index dropped 4.7% amid predictions that Wall Street’s meltdown would continue today. A photo shows an investor watching shares plummet in Australia.

RESERVE BANK WARNED: In an accompanying story the paper reports that the Reserve Bank must not raise interest rates tomorrow, Deputy PM Jim Anderton has warned.

Also on the front page:

- NEUTERTHON: a report that a vet has helped clean up Masterton’s tomcat problem – and given the toms the kind of care they can only purr about. Vet Heidi Ward-McGrath has completed a week-long free neuterthon;

- GE INQUIRY: a report that the Government will rely on a voluntary moratorium to stop the freeing of genetically modified organisms during its year-long royal commission probe;

- TURBULENCE INJURES: a report that seven passengers smashed into overhead lockers when the New Zealand-bound airliner fell 100 metres during severe turbulence yesterday.

Inside Political Headlines:

- Party-hopping bill will proceed despite impasse;
- Polls show Labour in position to govern alone;
- Bad-blood victims await better offer;
- Police admit liability for home search;
- Screening programme “so complex” inquiry told;
- Prebble fault’s Clark’s flying plans;
- Pacific Summit dates.

EDITORIAL – SHAREMARKET: Keep focus on the fundamentals. The first rule of bubbles is that they burst.

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