By Oliver Gray
Investing.com - The S&P/ASX 200 fell 95.9 points or 1.4% to 6,747 during Friday’s session, wiping modest gains of 0.2% in the previous session and finishing the week with a 2.1% loss as investors retreated amid surprisingly high U.S. inflation data, which fueled speculation of further aggressive rate rises from Federal Reserve policymakers.
Among stocks, Energy led declines, falling 3% as Woodside Energy Ltd (ASX:WDS) fell 2.9%, Santos Ltd (ASX:STO) lost 2.4%, Beach Energy Ltd (ASX:BPT) fell 4.1% and Viva Energy Group Ltd (ASX:VEA) lost 4%.
Materials finished 2.3% lower as Rio Tinto Ltd (ASX:RIO) fell 2.3%, BHP Group Ltd (ASX:BHP) lost 1.8%, Fortescue Metals Group Ltd (ASX:FMG) retreated 1.7%, while Arizona Lithium Ltd (ASX:AZL) lost 4.5%, Avz Minerals Ltd (ASX:AVZ) dipped 7.1% and Lynas Rare Earths Ltd (ASX:LYC) lost 5.2%.
Industrials shed 2.5% with Atlas Arteria (ASX:ALX) leading the losses, down 15.6% after the company raised $2.5 billion for a stake in the Skyway Concession company.
On the bond markets, Australia 10-Year yields were 3.744%, while United States 10-Year rates were at 3.482%.
In New Zealand, the NZX 50 fell 78.5 points or 0.7% to 11,580.5.