New Zealand’s benchmark S&P/NZX 50 index fell 0.2% to close at 12,467 on Thursday, wiping out earlier gains as financial and healthcare stocks weighed on the market.
Local shares of Australian banks Westpac and ANZ dropped 3.15% and 1.85%, respectively.
Additionally, aged-care provider Ryman Healthcare shed 3.3%.
Among index heavyweights, notable losses were recorded by Fisher & Paykel (-1.4%), Meridian Energy (-2.0%), and Infratil (-3.2%).
The Reserve Bank of New Zealand on Thursday also warned that U.S. tariffs could disrupt global supply chains and impact the country’s economy.
Elsewhere, the U.S. Federal Reserve held interest rates steady on Wednesday, as expected, but noted the risks of higher inflation and unemployment had risen.