The NZX has fallen 3.1 percent as the US and Israeli war on Iran dents people's investment portfolios. 

Closure of the crucial Strait of Hormuz has ignited supply concerns over crude oil - now costing more than $100 US dollars a barrel. 

Shares in Auckland Airport and Fisher and Paykel Healthcare have tumbled.  

Generate investment specialist Greg Smith says the market's accounting for what might happen, and it could turn.

He explained it's also affected by Iran appointing a new leader and Donald Trump refusing to back down - which has pushed out the time frame for resolving everything.

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