NZ Stock Market Dips as Hormuz Shipping Slows Amid US-Iran Tensions

New Zealand's stock market took a hit on Friday as tensions between the US and Iran threatened to disrupt global oil shipments through the Strait of Hormuz.

The S&P/NZX 50 index dropped 0.96% to 13,721.98, with investors growing cautious about potential price shocks to fuel and freight costs.

The Strait of Hormuz is a critical chokepoint for global oil shipments, and any disruptions can quickly impact New Zealand's trade balance and inflation expectations.

While local indicators such as the services sector still in expansion and rising electronic card spending may have offered some support, they were overshadowed by the geopolitical concerns.