NZX 50 lost 131 points, or 1.0%, to close at 13,580 on Friday, reversing earlier gains in morning trading and touching its lowest level since June 29, tracking a downbeat session on Wall Street overnight amid a surge in Treasury yields and rising oil prices. Traders were cautious ahead of the release of US inflation data later today for clues on the Fed’s monetary policy decision next week. Caution also built ahead of the release of New Zealand’s Q2 GDP and a slew of economic data from China, New Zealand’s top trading partner, due next week. On the data front, New Zealand’s manufacturing sector expanded at a slower pace in August. Almost all sectors traded in the red, led by materials, with the biggest laggards including Infratil (-2.0%), Fisher & Paykel (-1.9%), Freightways Group (-1.7%), A2 Milk (-1.5%), Auckland International Airport (-1.4%), Meridian Energy (-1.3%), and Fletcher Building (-1.3%). For the week, the index fell 2.8%, after rising in the previous week.