The NZX50 index fell 44 points, or 1.3%, to close at 3382 on turnover of $87 million on Wednesday.
When the markets closed the NZ dollar was trading at 77.66 US, 78.09 Australian, 49.93 pence, 61.82 yen and 0.6215 euro. The Trade Weighted Index was at 70.72.
Fletcher Building was down 15 cents at $6.13, Telecom was down 5.5 cents at $2.33, Chorus was down 7 cents at $3.03 and Contact Energy was down 9 cents at $4.62.
SkyCity Entertainment was down 12 cents at $3.41 after the Auditor General's office started an investigation into the Government's controversial deal with the casino operator to build a convention centre in Auckland.
Sky Network TV was down 8 cents at $4.85.
Fisher & Paykel Healthcare was down 3 cents at $2.01 and Fisher & Paykel Appliances was unchanged at 53 cents.
Auckland International Airport was up 0.5 cent at $2.475 and Air New Zealand was down 1.5 cents at 84 cents.
Tower was down 8 cents to $1.59, Restaurant Brands was down 9 cents to $2.06 and Trade Me was down 11 cents to $3.65.
Rubicon was unchanged at 38 cents after saying its plans to raise $21 million from shareholders to help meet the company's funding needs to early 2014.
OceanaGold was up 7 cents to $2.67 and Pumpkin Patch was up 1 cent at 93 cents.