New Zealand's Dominion Finance sees stock plunge


  • Business
  • Thursday, 19 Jun 2008

WELLINGTON (AP) - Shares in New Zealand's Dominion Finance tumbled 80 percent Thursday over concerns about the liquidity of two subsidiaries, the latest example of fallout from the global credit crunch.

The nonbank finance company is the country's 21st to face serious difficulties in the wake of the subprime mortgage crisis in the U.S.

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