By Oliver Gray
Investing.com - The S&P/ASX 200 fell 56.6 points or 0.8% to 7,433.7 during Friday’s trading session, falling 1.6% for the week as investors turned cautious amid weaker than expected earnings results from major companies and fears of further interest rate rises from RBA policymakers.
Among stocks, News Corp (ASX:NWS) led declines, down 6.9% after the company missed estimates for second-quarter earnings and announced a 5% headcount reduction, equal to 1,250 jobs.
Information Technology retreated 2% as Block Inc (ASX:SQ2) shed 6.2%, Novonix Ltd (ASX:NVX) lost 5% and Xero Ltd (ASX:XRO) dipped 2.1%.
Energy fell 1.7% as Santos Ltd (ASX:STO) lost 1.1%, Woodside Energy Ltd (ASX:WDS) dipped 1.7% and Beach Energy Ltd (ASX:BPT) fell 2.6%.
On the bond markets, Australia 10-Year rates were higher at 3.71%.
In New Zealand, the NZX 50 added 60.1 points or 0.5% to 12,178.8.