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Squire looked to pick up a shoulder injury during the first half of the 36-34 loss at Wellington's Westpac Stadium last night, but was able to play on until he was substituted by Patrick Tuipulotu in the 59th minute.
However, the All Blacks announced today Squire would miss the rest of the tournament due to a hand injury.
The injury opens up an opportunity for the likes of Shannon Frizell or Jackson Hemopo to see some time in the All Blacks No 6 jersey.
Squire joins prop Joe Moody in the casualty ward for the remainder of the Championship, with lock Brodie Retallick's status remains in doubt after suffering a shoulder injury in the opening minute of the All Blacks win against Argentina last week.