The NZX 50 slipped 86 points, or 0.7%, to finish at 13,032 on Tuesday, marking its third straight decline and the lowest close in over four months. A sharp drop in U.S. futures weighed on sentiment as Wall Street prepared to reopen after Monday’s break, with concerns lingering over the AI sector. Traders stayed cautious ahead of Wednesday’s RBNZ policy meeting, where rates are expected to hold at 2.25%, though speculation is building for hikes later this year. Meanwhile, New Zealand's food inflation rose to 4.6% in January from December’s eight-month low of 4%, the first uptick since October. Severe weather compounded the gloom, as heavy rain and winds disrupted transport and cut power across the North Island. Losses in non-energy minerals, logistics, manufacturing, and healthcare outweighed gains in tech services and consumer durables. Scott Tech (-4.3%) led falls, followed by Contact Energy (-3.9%), Summerset (-2.7%), Tourism Holdings (-2.1%), and Fisher & Paykel Healthcare (-2.0%).