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