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ASX All Technology Index teetering on verge of a bear market – The Motley Fool Australia
Risk appetite may be strong but the ASX index holding our most popular technology shares is at risk of collapsing into a bear market.
Risk appetite may be strong but the ASX index holding our most popular technology shares is at risk of collapsing into a bear market.
What a difference a month makes! The S&P ASX ALL TECHNOLOGY (INDEXASX: XTX) hit a high on 10 February this year and has crashed by around 17%.
The technical definition of a bear market is a peak-to-trough drop of 20% or more. It won’t take much for ASX tech shares to reach that dubious milestone.
ASX tech shares in bear territory
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