Wellington  - The New Zealand stock market - the first in the world to
open every day - plunged to a five-year low on Tuesday following the
overnight slump on Wall Street.

The benchmark NZX-50 index fell below 2,500 for the first time since
January 2004, dropping 47 points or 1.85 per cent to 2,491 by midday,
after falling 38.4 points on Monday.

The value of all the top stocks, including Telecom and Fletcher Building, fell on low turnover. (dpa)