The NZX 50 fell 36 points, or 1%, to close at 3452 on turnover of $88 million on Friday afternoon.
In currency markets the New Zealand dollar was at 75.19 US cents, 77.63 Australian cents, 48.89 pence, 58.93 yen, 0.6081 euro and the The Trade Weighted Index stood at 68.95.
Fletcher Building was down 27 cents to $6.02, Telecom down 4 cents at $2.54, Chorus up 2 cents at $3.28 and Contact Energy was down 7 cents at $4.81.
Sky City Entertainment was down 3 cents to $3.53 and Sky Television down 2 cents to $4.93.
Auckland International Airport was down 2 cents to $2.555, Air New Zealand down 1 cent to 86 cents and Fisher & Paykel Healthcare was down 1 cent at $2.04.
The Warehouse was unchanged at $2.52 after announcing plans to sell and lease back four properties - a decision it expects will bring it $100 million.
Pumpkin Patch was up 2 cents at 90 cents after Rod Duke joined the board and was Kathmandu unchanged $1.45.
Trade Me was down 5 cents to $4.02 and Steel and Tube down 8 cents to $2.10, Vector was down 6 cents to $2.63 and Infratil down 6 cents to $2.00.
