Yahoo Finance's morning wrap for Friday

David Warner of Randwick-Petersham during the Sydney Grade Cricket One Day match between Randwick-Petersham and Sutherland at Coogee Oval on November 10, 2018 in Sydney, Australia. (Image: Getty)

Welcome to Friday.

Markets: Wall Street slumped 2 per cent overnight as Apple’s downgraded revenue forecast sent shivers down the rest of the market. The tech giant’s stocks lost a whopping 9.2 per cent in value, with the company attributing the downgrade to slowing sales in China.

After having a good Thursday climbing 1.36 per cent, the ASX 200 is expected to open today 0.55 per cent lower as a result of the anxiety in the US.

Aussie dollar: The AUD, USD and NZD had a “flash crash” yesterday (before recovering somewhat) while the Japanese Yen proved to be popular as a safe haven. The Aussie is now buying 70 US cents.

Cracked building: The evacuated residents of the Sydney high-rise Opal Tower is facing a possible 50 per cent loss in value of their homes, according to one expert. Fairfax Media reported that about 100 people attended a Thursday meeting with Fair Trading to discuss their options.

Double negatives: Federal Labor has doubled down on its promise to abolish negative gearing on new purchases of existing properties, even after figures showing Australian housing has had its biggest drop since the global financial crisis. Opposition trade spokesperson Jason Clare said negative gearing would be negated “within the first 12 months of a Labor government”, according to the ABC.

Dream job: A relatively new feature in LinkedIn could help you land that job you always wanted. It’s good for employers too, as an ever-competitive job market sees non-financial incentives rise in importance.

A million bucks: Under-siege cricketer David Warner could bag himself a cool million if he gave an interview about that infamous day in South Africa last year that brought the career of three Australian athletes to a halt, reckons Fairfax Media. Will he maintain his dignified silence or open up in front of Andrew Denton?

Have a great weekend!

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