"We're planning to invest over US$50 billion in the United States over the next five years to increase production of profitable volumes and enhance our integrated portfolio, which is supported by the improved business climate created by tax reform", Woods said.
Japan's 10-year yield dipped one basis point to 0.086 percent. Rising rates can undercut appetite for stocks if government paper offer richer yields than risk assets like stocks.
What is good for business and workers may end a period of nearly no inflation.
However, not all players in the market are convinced the bull market that saw an increase of 5.6% in the S&P 500 during January has come to an end.
With the huge drop on Friday, the three major Wall Street indexes ended with their biggest losses for one week in almost two years, after closing the previous week at record highs.
The Nasdaq Composite Index was down 144.92 points, or 1.96 per cent, to 7,240.95.
Exxon Mobil Corp. and Chevron Corp., failing to capitalize on a more than 50 percent rise in oil prices since June, spurred the wrath of investors by missing fourth-quarter estimates on both earnings and output.
Other exceptions Friday included Netflix and Amazon, up 1 percent and 3 percent, respectively.
"Picture it like you see a coat in the store and the next day you go to buy it, it's on sale", said financial expert Glen Wood of Glen Wood Financial Group.
The bond market has also been struggling with the idea that rising inflation could push the Federal Reserve to raise interest rates more than the three times central bank officials have forecast for this year. The Dow lost 665.75 points, or 2.5 percent, to 25,520.96.
The Dow, S&P 500 and Nasdaq snapped four-week winning streaks. Its shares sank roughly 4.3 percent Friday, worse than the broader market. The Dow's decline of 2.5 percent was mirrored in other major indices.
Tech giant Apple reported better-than-expected quarterly results. Brent crude, used to price worldwide oils, fell $1.07, or 1.5 percent, to close at $68.58 a barrel in London. That compares with 67 percent a quarter earlier.
Gold decreased 0.2 percent to $1,345.59 an ounce.
The pan-European FTSEurofirst 300 index of leading regional shares lost 0.98 per cent and the STOXX 600 index tumbled 1.07 per cent.