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Speaker 1: All right, we'll go now to the markets. The NZX

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Speaker 1: has closed down nearly four percent on the day. What's

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Speaker 1: happened over in Australia on the ASX has been described

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Speaker 1: as a blood bath. Greg Smith is an investment specialist

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Speaker 1: that generate wealth and key we save and is with us.

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Speaker 2: High Greg, Hi, Heather, what brought this on?

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Speaker 1: Is it the oil price?

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Speaker 2: Yeah, it's all about the aill prices as you're just

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Speaker 2: talking with Shane about up twenty five percent today. The

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Speaker 2: all price was that that means it's in seventy percent

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Speaker 2: since the conflict began a week ago and really just

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Speaker 2: disppose those fears over our faux inflation being stoked. So yeah,

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Speaker 2: and the New zeal market was down three point two percent.

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Speaker 2: We've actually held up pretty well over the past week

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Speaker 2: or so, but that all changed today. Really was nowhere

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Speaker 2: to hide. So he had travel stocks and transport stocks

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Speaker 2: they will are, but yeah, everything was sort of taking

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Speaker 2: a bit of a bath, including Frish and Pipal Healthcare

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Speaker 2: and that's our biggest company down four point six percent.

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Speaker 2: But yeah, certainly all really resting with what happened to

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Speaker 2: the your price today?

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Speaker 1: How worried are you about inflation as a result of

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Speaker 1: what you're.

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Speaker 2: Seeing, well, looking up all stays where it is, or

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Speaker 2: even goes hi, that is going to be problematic for inflation.

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Speaker 2: I suppose you know that the big unknown is what

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Speaker 2: happens with the straight of Hu moves. I suppose it

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Speaker 2: would point out that you know, a lot of people

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Speaker 2: have been talking about this being like the seventies, the

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Speaker 2: oil crisis. It's certainly not that we're seeing a geopolitical

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Speaker 2: risk premium being priced into oil. There's obviously various options

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Speaker 2: for oil coming from elsewhere, so that the straight counts

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Speaker 2: around about twenty percent worlds well in terms of transport.

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Speaker 2: Obviously Trump wants to get that going again. Iran they

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Speaker 2: need oil revenues, so they'll be having interest there. And also, yeah,

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Speaker 2: we can get all from other places. And also the

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Speaker 2: US UNLO back in the seventies is now a net

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Speaker 2: exporter ball and it has shells. So yeah, I mean

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Speaker 2: it's concerning, and obviously we want to see the oil

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Speaker 2: price head back down, but yeah, current levels, it certainly

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Speaker 2: would do a bit to stoke inflation. But I think look,

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Speaker 2: it's also important here that those maybe that are looking

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Speaker 2: at their key we Saber just to realize what the

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Speaker 2: market is doing in terms of the market. Stock market

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Speaker 2: reaction is not accounting for what is happening, but what

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Speaker 2: might happen. And I think we could easily see things

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Speaker 2: turn if even there was some sort of diplomacy. I

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Speaker 2: think the other big thing today was obviously Iran has

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Speaker 2: a new leader. Obviously Trump isn't backing down, So that

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Speaker 2: sort of just perhaps pushed out the timeline a bit

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Speaker 2: for it's being resolved. Obviously the US are still sticking

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Speaker 2: to the narrative of weeks rather than months.

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Speaker 1: Do you think we're being completely rational here or is

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Speaker 1: this a little bit of the jittery stuff, you know,

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Speaker 1: like wild reactions to anything at the moment because we're

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Speaker 1: a bit panicky.

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Speaker 2: Oh for sure. And yeah, we're remembering that stock markets

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Speaker 2: and investors have dealt with lots of crises before. Yeah,

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Speaker 2: including warts. So if you look at the Ukraine War,

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Speaker 2: we had a similar move in the old price. We

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Speaker 2: had a similar move down the shear market. It lasted

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Speaker 2: a little bit longer, but you look at markets, they

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Speaker 2: do recover, they get past these crises. If you look

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Speaker 2: at the S and P five hundred, the biggest index

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Speaker 2: in America, that's up around about eighty percent since the

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Speaker 2: Low's posts. Russia's invasion of Ukraine, so really important to

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Speaker 2: get some perspective here, yeah too.

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Speaker 1: Right, Hey Greg, thank you very much appreciated greegs investment

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Speaker 1: specialists to generate wealth and can we save it?

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