Afterpay & Zip jump, Fortescue tumbles

At lunch on Monday the S&P/ASX 200 Index (ASX: XJO) is back on form and storming higher. At the time of writing, the benchmark index is up 1.5% to 6,774.9 points.

Here’s what is happening on the market today:

Tech shares rebound

The tech sector is rebounding after a positive night of trade on Wall Street’s Nasdaq index on Friday night. The likes of Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) are recording notably strong gains are helping to drive the S&P/ASX All Technology Index (ASX: XTX) 2.6% higher at lunch. On Friday night the tech-focused Nasdaq index rose 0.5%.

Fortescue share price tumbles

The Fortescue Metals Group Limited (ASX: FMG) share price has come under pressure on Monday. However, the pullback in the…