Australia shares set to drop at open, NZ falls

Australian shares were poised to open
firmly lower on Wednesday, tracking an overnight slide on Wall
Street, as a collapse in U.S. oil prices underscored fears of a
severe economic fallout from the coronavirus pandemic.
The local share price index futures fell 2.1%, a
131.3-point discount to the underlying S&P/ASX 200 index
close. The benchmark ended 2.5% lower on Tuesday.
New Zealand’s benchmark S&P/NZX 50 index fell 0.2%
in early trade.