New Zealand's benchmark S&P/NZX 50 index fell 0.2% to close at 13,455 on Tuesday, erasing earlier gains as most sectors finished in the red. Leading the losses were distribution services, with Vulcan Steel down more than 4% and Steel & Tube Holdings falling over 3%. Industrial services and non-energy minerals also posted sharp declines, including Santana Minerals (-4.4%) and Ventia Services Group (-1.5%). Other notable laggards included Vista Group (-3%), Napier Port (-2.7%), PGG Wrightson (-1.8%), Mercury NZ (-1.7%), Vector (-1.7%), and Summerset Group (-1.6%). On the economic front, investors are awaiting the Federal Reserve’s monetary policy decision this week for signals on the outlook through 2026. Traders are also monitoring China’s November consumer and producer price data, which could shed light on the health of New Zealand’s key trade partner amid persistently weak domestic demand.