NZX 50 Index Slumps on AI Regulation Fears and Rising Oil Prices

New Zealand's S&P/NZX 50 index fell for a fourth consecutive session due to declining interest rate-sensitive companies and concerns over artificial intelligence regulation.

Infratil, a key player in infrastructure spending programmes, dropped 3.5% to $13.61 as US developers' calls for AI regulation weighed on the market.

Rising oil prices fueled expectations of higher interest rates by the Federal Reserve, pushing government bond yields up worldwide and negatively impacting companies such as Vector and commercial landlords.