- The Nasdaq fell 2.72% to close at 13,769 points on Friday.
- Intel announced plans to invest US$20bn into new production plants in Ohio.
- Carnival Corp. tumbled 3.9% on Friday as COVID-19 cases cause cancellations.
The US markets closed sharply lower again on Friday as investors continued to grapple with the concept of higher interest rates and the impact of rate hikes on valuations.
New weekly jobless claims also soared to 286,000 last week, well above economists expectations of 225,000 new claims.
The Dow Jones fell 1.3% to finish the trading day down 450 points to close at 34,265 points.
The tech heavy NASDAQ fell 2.72% to finish the trading day down 385 points to close at 13,769 points., to round out its worst week since the pandemic began.
One bitcoin is worth US$36,409 going into the Asian trading day.
The Australian dollar is stronger against the major currencies and is buying 71.87 US cents.
Intel shares defied the sharp tech sell-off on Friday to close just 0.31% lower after the computing giant announced it is investing at least US$20bn in two new manufacturing plants outside Columbus, Ohio as chip makers race to meet global supply demand.
Shares in Carnival Corp tumbled 3.9% on Friday after the cruise and tourism operator had to cancel the remainder of its season due to changing conditions as Omicron continues to spread around the world.
And Airbnb?s CEO Brian Chesky has announced he will work remotely and stay in a new rental every 2 weeks.