By Oliver Gray
Investing.com - The S&P/ASX 200 tumbled 119.50 points or 1.57% to 7,473.30 during Friday’s deals, posting the biggest daily declines since February and retreating from near record highs as U.S. Federal Reserve policymakers indicated a more aggressive stance on rate increases.
Among stocks, Materials companies shed 3.1% collectively, as Rio Tinto Ltd (ASX: RIO ) lost 2.4%, BHP Billiton Ltd (ASX: BHP ) fell 4.4%, Fortescue Metals Group Ltd (ASX: FMG ) lost 1.2%, Pilbara Minerals Ltd (ASX: PLS ) dipped 3.2% and Lake Resources NL (ASX: LKE ) declined 1.9%.
Financials also finished 1.7% overall as Macquarie Group Ltd (ASX: MQG ) dipped 1.6%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) lost 0.8%, National Australia Bank Ltd (ASX: NAB ) fell 1.4%, Westpac Banking Corp (ASX: WBC ) dipped 1.2% and Commonwealth Bank Of Australia (ASX: CBA ) lost 2.8%.
In New Zealand, the NZX 50 lost 0.4% to 11,908.
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