Georgia companies see stocks dip after market closes on Friday 

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Georgia companies see stocks dip after market closes on Friday 

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The Atlanta Journal-Constitution
Home Depot announced bonuses of up to $1,000 for its hourly workers, thanks to tax cuts recently passed by Congress. But some businesses may use tax savings in ways that cut jobs.

Friday’s selloff cut across industries and pounded a number of major Georgia companies. Few segments were spared. 

Some of the state’s biggest players, including Aflac (-0.83 percent), Coca-Cola (-1.52 percent), Delta Air Lines (-3.19 percent), Home Depot (-2.97 percent), Mohawk Industries (-1.99 percent), SunTrust Banks (-2.7 percent) and UPS (-2.54 percent), all were down. 

The catalyst for Friday’s fall appeared to be a government report that showed the strong United States economy might finally be translating into rising wages for American workers, according to the New York Times.

While rising pay is good for workers, it also can be a sign that inflation is coming, the newspaper reported. And investors worried it could prompt the Federal Reserve to raise interest rates faster than expected. That is unnerving for investors accustomed to the last decade’s rock bottom rates. 

Company / Closing Price / Share price decline / % decline

 

Aflac  $88.95 / -$0.74 / -0.83 percent

 

Coca-Cola $46.73 / -$0.72 / -1.52 percent

 

Delta Air Lines $54.62 / -$1.80 / -3.19 percent

 

Home Depot $193.97 / -$5.93 / -2.97 percent

 

Mohawk Industries $270.58 / -$5.50 / -1.99 percent

 

SunTrust Banks $69.48 / -$1.93 / -2.7 percent

 

UPS $116.47 / -$3.04 / -2.54 percent

Source: Yahoo Finance

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