The NZX 50 fell 1.2% to 12,838 on Monday, extending losses from the previous week and marking its lowest level since August 2025, as mounting geopolitical risks continued to weigh on investor sentiment. Tensions in the Middle East escalated after US President Trump threatened to strike Iranian power facilities if the Strait of Hormuz remains closed. Tehran retaliated with warnings it would hit key US and Israeli targets, fuelling concerns over global energy supply disruptions. Meanwhile, RBNZ Governor Adrian Orr is scheduled to deliver a keynote address at BusinessNZ’s CEO Forum in Auckland. During the speech, the governor is expected to address the potential economic implications of the evolving Middle East conflict, while also outlining ongoing efforts to modernise New Zealand’s payments system. Heavyweight stocks led the market decline, particularly Fisher & Paykel Healthcare (-0.7%), Meridian Energy (-0.6%), Auckland International Airport (-2.4%), and Infratil Limited (-1.1%).