AM Report 5 Feb 18: US slumped on Friday, ASX set for 65pts slide

US sharemarkets slumped on Friday. A number of bellwether companies disappointed with earnings reports. And strong wage growth led to fears of higher interest rates. Shares in Exxon Mobil fell 5.1% and Chevron fell 5.6% after the oil giants disappointed with earnings. Alphabet (Google) lost 5.3% and Apple lost 4.3%. At the close the Dow Jones was down by over 665 points or 2.5% after being down 696 points. The S&P 500 index fell by 2.1%. And the Nasdaq lost 145 points or 2.0%. Over the week the Dow lost 4.1%, the S&P 500 fell by 3.9% and the Nasdaq lost 3.5%.

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