US Close 14 Dec 15: Big slides in the US on Friday - Aussie index set for 70pts slide.

US sharemarkets fell sharply on Friday ahead of a potential US rate hike, Chinese Yuan concerns and sliding oil prices. The VIX jumped 26%. The S&P energy index fell by 3.4%. The Dow Jones index fell by 310 points or 1.8% with the S&P 500 down 1.9% while the Nasdaq lost 112 points or 2.2%. For the week the Dow Jones lost 3.3%, the S&P 500 fell 3.8% and Nasdaq lost 4.1%.  

Chinese retail sales rose at an 11.2% annual rate in the year to November, above forecasts (+11.1%) and the fastest in 11 months. Excluding petrol, retail sales were up 13.1% over the year. Industrial production rose at a 6.2% annual rate in November, above the forecast average (5.6%). Urban investment rose 10.2% in the 11 months to November (forecast 10.1%).

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