The NZX 50 fell 88 points, or 0.7%, to 13,483 in morning trading on Wednesday, down for the third straight session, tracking losses on Wall Street overnight due to an escalation in trade risks after President Trump threatened new tariffs of 10% from February 1, rising to 25% by June, on eight European countries. The broader index hit its lowest level since December 19, with almost all sectors trading in the red, led by healthcare. Traders anticipated the release of Q4 domestic inflation data later this week, with the market expecting the figure to stand at 3%, remaining the highest since the second quarter of 2024, which could guide the RBNZ’s monetary policy decision at the upcoming meeting. Caution was also built as investors awaited Prime Minister Christopher Luxon’s announcement of this year’s general election date later today. Among the biggest laggards were Fletcher Building (-2.3%), Serko (-1.6%), Fisher & Paykel (-1.4%), and Fonterra (-1.0%).