Communication Services underperformed, down 1.5 per cent, followed by energy (-1.0 per cent) and technology (-0.8 per cent).
Enphase Energy was the leading single stock at the time of writing, up 5.3 per cent. The energy technology company announced an expansion of its European distribution relationship with renewable energy company BayWa r.e.
BayWa r.e. will distribute Enphase's solar and battery products in Germany and Benelux (Belgium, Netherlands and Luxembourg).
Rollins traded 5.2 per cent higher. The pest and wildlife control company's share price lifted following an upgraded rating from some analysts.
Solaredge Technologies was also in the green, up 3.9 per cent.
Among the laggards, pharmaceutical and biotechnology company Moderna fell 5.3 per cent at the time of writing. Automotive parts business LKQ Corporation traded 3.9 per cent lower.
Household products firm Church & Dwight was down 3.5 per cent. The company announced its acquisition of acne treatment business Hero Cosmetics, the name behind the Mighty Patch line of products. Church & Dwight will purchase Hero for US$630 million in cash and restricted stock.
Rest of the World
Asian markets were mixed. The Shanghai Composite improved 1.4 per cent, while the Hang Seng slipped 0.1 per cent. The Nikkei traded flat.
Commodities
The WTI Crude Oil price dropped 0.3 per cent to US$86.61 per barrel at the time of writing. Despite a slim OPEC+ output cut, diminished demand and concerns over further interest rate increases appear to have weighed on the market.
Gold traded 0.6 per cent lower to US$1,712.20 an ounce at the time of writing, on US dollar appreciation and rising bond yields.
Cryptocurrencies Bitcoin (-3.7 per cent) and Ethereum (-0.7 per cent) moved lower at the time of writing.
The US 10-Year Treasury Yield climbed to 3.338 per cent (+0.147), as August's non-manufacturing purchasing managers index (PMI) result of 56.9 beat market expectations.
New Zealand
The NZX 50 continued its fall, down 0.2 per cent on Tuesday.
The top performing stock was agribusiness Scales Corp, up 4.8 per cent.
Pacific Edge continued its positive performance from Monday, gaining 2.0 per cent and Stride Property rose 1.7 per cent after going ex-dividend on Thursday last week.
Conversely, Eroad fell 2.7 per cent.
Fisher & Paykel Healthcare dropped 2.3 per cent. Last week, the company entered an agreement to purchase land for a second New Zealand campus to accommodate future anticipated growth.
Argosy Property declined 2.3 per cent.
New Zealand's aerospace industry will receive nearly $16 million of funding for new space-centric initiatives.
The funding will be split between collaborations with US's Nasa, research projects under the Government's Airspace Integration Trials programme, and the civil aviation authority (CAA). The CAA is being supported to establish a new emerging technologies programme to support the industry.
Australia
The ASX 200 dropped 0.4 per cent yesterday, declining to 6826 points.
For the second day in a row, information technology and energy were the winning sectors, up 0.7 and 0.5 per cent respectively. Utilities, materials and industrials were the major laggards, each down 1.9, 0.7 and 0.7 per cent.
Paladin Energy continued its strong performance with a further 7.8 per cent jump in its share price. The company is over 65 per cent up from this year's low of A$0.54.
Pilbara Minerals climbed 7.0 per cent yesterday. The company has rallied more than 33.0 per cent over the past month.
Battery metal developer Liontown Resources also closed in the green, up 5.7 per cent.
Super Retail Group was the weakest performer of the index yesterday, down 6.2 per cent.
Codan Limited followed in the red, down 5.6 per cent. 4.6 million units of the company's stock were traded yesterday, more than nine times the previous week's average.
Breville Group rounded out the bottom three performers with a 4.9 per cent decline.
The Reserve Bank of Australia (RBA) increased their cash rate by 50 basis points to 2.35 per cent yesterday, in line with expectations. This is the highest cash rate Australia has had since 2015.
The RBA governor Philip Lowe commented that the central bank remained committed to returning inflation to the 2-3 per cent range over time.
It was seeking to do that while keeping the economy on an even keel.
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All market pricing and announcements are sourced from Refinitiv, NZX and ASX.
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