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business reporters Michael Janda and Kate Ainsworth

Bigger-than-expected award wages increase sinks major retail stocks — as it happened

US Federal Reserve United States the Federal Reserve Michael Janda Nasdaq

The Fair Work Commission announced a 5.75 per cent increase in award wages, arguing that it would not spark a wage-price spiral, but it did send some retail stocks into a minor tailspin.

Look back at how the day's financial news and insights played out on our live blog.

Disclaimer: this blog is not intended as investment advice.

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