ASX –the ASX200 has fallen heavily this week declining about 4% with the materials sector weighing the index down.
BHP – BHP has seen its share price fall about 13% this week which is likely caused by the falling iron ore prices, BHP’s largest source of revenue.
US –US stock indexes such as NASDAQ, S&P 500 and the Dow Jones have all fallen this week as it becomes more likely the Federal reserve will raise rates in excess of 75 basis points.
AUD – The Australian dollar finished August at about 0.68c significantly lower than the 52-week high in May of 0.76c. This decrease may be attributed to the increased interest rates and the slowing growth in China – our biggest importer.
Snapchat – One of the worlds largest social media platform – Snapchat (NYSE:SNAP), has cut 1,300 staff after reporting revenue which was well below their expectations. CEO and co-founder Evan Spiegel “we must reduce our cost structure to avoid incurring significant ongoing losses,”
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