FX.co ★ Shares in New Zealand Drop for 3rd Session

On Thursday morning, New Zealand's stock market experienced a decline, with the index dropping 61 points, or 0.5%, to 12,567, marking its third consecutive session of losses. The downturn was primarily driven by decreases in the consumer durables, industrial services, and healthcare sectors. This movement reflects traders' responses to the U.S. Federal Reserve's recent decision to maintain interest rates at their current level for the fourth consecutive meeting, a move that was largely anticipated. However, market sentiment was negatively impacted by the Fed's indication of fewer rate cuts in 2025 due to ongoing cost pressures and worries about decelerating economic growth.