Australian shares set to open lower; NZ slumps a record 6pc

• The local share price index futures fell 7.2pc, a 411.6-point discount to the underlying S&P/ASX 200 index close.
• The benchmark lost 7.4pc on Thursday in its biggest plunge since the 2008 global financial crisis.

Australian shares looked set to drop at open on Friday, tracking Wall Street peers, as the US move to restrict travel from Europe over the coronavirus pandemic rattled investors already shaken by fears of a global recession.

The local share price index futures fell 7.2pc, a 411.6-point discount to the underlying S&P/ASX 200 index close.

The benchmark lost 7.4pc on Thursday in its biggest plunge since the 2008 global financial crisis.

New Zealand's benchmark S&P/NZX 50 index dropped as much as 6pc in early trade, marking its biggest-ever intraday percentage loss.