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ASX 200 closes down 0.7%; CBA leads bank selloff; wages grow
ASX closed down 0.7%, sharply dragged by a massive selldown of CBA and other major bank losses. Wages grew modestly in October but 'pockets of pressure' exist.
Welcome to the Trading Day blog for Wednesday, November 17. ASX 200 closed down 0.7% led by sharp losses among the banks, led by CBA. Wages grew modestly in October, but pressures exist.
The S&P 500 and Nasdaq closed at their second highest points in history after US retail sales, industrial production and sales from Home Depot and Walmart also beat expectations. The Dow Jones Industrial Average is up 0.15 per cent, tech-heavy Nasdaq 0.8 per cent higher and the S&P 500 also gained 0.4 per cent.
Iron ore gained 1.4 per cent yesterday to $US90.40 a tonne. The US Nymex crude price fell by 0.1 per cent to $US80.76 a barrel.
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