By Oliver Gray
Investing.com - The S&P/ASX 200 fell 56.1 points or 0.8% to 7,148.7 during Friday’s trade, declining 0.9% for the week and falling to 3-week lows as investors tracked a negative close on Wall Street overnight amid growing concerns of an economic downturn.
Among stocks, Utilities led the declines, falling 2.1% collectively as Origin Energy Ltd (ASX:ORG) fell 1.9% and AGL Energy Ltd (ASX:AGL) fell 2.4%.
Tech companies were also hit, falling 2% overall as Block Inc (ASX:SQ2) dropped 6.3%, Appen Ltd (ASX:APX) lost 4.9%, Megaport Ltd (ASX:MP1) dipped 1.3% and Novonix Ltd (ASX:NVX) lost 2.7%.
On the bond markets, Australia 10-Year yields were at 3.462% while United States 10-Year rates were at 3.48%.
In New Zealand, the NZX 50 finished flat at 11,603.7.