Dairy stocks lead NZX 50 lower

The S&P/NZX 50 Index fell 61 points, or 0.5%, to 13,104.6. Turnover was $130 million.

A risk-off tone continues to dwell in global markets with many equities moving lower overnight and safe-haven currencies finding good support from traders.

Meanwhile, market interest rates are holding at relatively high levels as central banks begin to consider tightening monetary policy.

Dairy stocks led the local market lower, Fonterra Shareholders' Fund units declined 3% to $3.86, A2 Milk dropped $6.24 to 2.2%, and Synlait Milk was down 0.8% at $3.60.