FX.co ★ New Zealand Stocks Drop After Trump's Tariffs

The New Zealand stock market experienced a decline of 113 points, or 0.9%, reaching its lowest point in over a week at 12,208 during Thursday's morning trade. This downturn occurred following a day of stagnation, driven by concerns over a potential global trade conflict in light of President Trump's recent tariff announcements. The NZX 50 mirrored a sharp decline in U.S. stock futures, reacting to the news that President Trump intends to enforce a baseline tariff of 10% on all imports to the United States. Additionally, higher duties will be applied to some of America’s major trading partners, including New Zealand, in response to what Trump stated is a 20% tariff on U.S. goods imposed by New Zealand. Every sector saw losses, with the energy sector leading the decline, followed by industrials, materials, and utilities. Notable companies among the biggest decliners included Skellerup Holdings (down 1.7%), F&C Investment Trust (down 1.6%), ANZ Group (down 1.2%), AFT Pharmaceuticals (down 1.2%), Gentrack Group (down 1.2%), Fisher & Paykel (down 0.9%), and A2 Milk (down 0.8%).