KEY POINTS:
The New Zealand sharemarket slipped lower in early trading, following falls in United States equities overnight.
After closing 15c higher yesterday, leading stock Telecom was down 6c early today to 235. Contact Energy was also down 6c, dropping to 735.
Around 10.15am, the benchmark NZSX-50 index was down 15.26 points to 2822.59, having risen 46.2 points yesterday.
NZ Refining Co lost 10c to 650, while Port of Tauranga was also down 10c to 650.
Among the few rises, Hallenstein Glasson gained 2c early to 235.
In the US, stocks fell as investors worried about the outlook for companies, including General Motors and Goldman Sachs, given the global economic downturn and enthusiasm for China's deep-pocketed stimulus plan faded.
The Dow Jones industrial average unofficially fell 0.8 per cent to 8870.54. The Standard & Poor's 500 Index lost 1.3 per cent to finish unofficially at 919.21. The Nasdaq Composite Index was off 1.9 per cent to close unofficially at 1616.74.
- NZPA