On May 4, the S&P/ASX 200 index in Australia fell by 0.4%, closing at 8,696, as most sectors experienced losses. The decline was led by National Australia Bank (NAB), whose shares dropped 4% after reporting half-year cash earnings of A$2.64 billion (approximately $1.90 billion), which fell short of market expectations and last year's figures. This marks NAB's lowest stock price since August 2025. The bank also expressed concerns regarding asset quality risks due to the ongoing conflict in Iran. Consumer staple stocks, including a2 Milk and Endeavour Group, faced significant declines, with a2 Milk's shares dropping as much as 19% following a recall of its infant milk formula in the U.S. due to toxin detection. Endeavour Group's stock fell 6.7% due to rising fuel and freight costs. In contrast, tech and industrial sectors saw slight gains of 0.5% and 0.2%, respectively. Investors are now looking ahead to the Reserve Bank of Australia's monetary policy meeting, where a 25 basis points rate hike is anticipated.