New Zealand’s benchmark S&P/NZX 50 fell 0.7% to close at 13,413 on Wednesday, reversing gains from the previous session as most sectors traded in the red, including health care, utilities, consumer non-durables, and communications. Markets remained cautious ahead of the US Federal Reserve’s policy decision, with firmer Australian inflation data and mixed global earnings keeping investors focused on interest rate expectations. Key contributors to the decline were heavyweights EBOS Group (-2.9%), Infratil (-1.9%), Fisher & Paykel (-0.6%), A2 Milk (-0.6%), Auckland International Airport (-0.8%), Meridian Energy (-0.5%), and Mainfreight (-0.5%). Looking ahead, markets are awaiting local trade figures, expected to show a muted balance, along with business and consumer confidence data.