Business
ASX set for sharp losses; $A hits US80c before falling – Sydney Morning Herald
The Australian sharemarket is poised to drop by around 1 per cent at the open while the Australian dollar crossed US80c for the first time in three years before…
Stocks moved solidly lower Thursday (US time) as the recent theme of the market rising bond yields and falling prices of technology companies continued to weigh on trading.
In early afternoon trade, The S&P 500 index is 2 per cent lower, the Dow Jones has shed 1.4 per cent, and the Nasdaq Composite, which is weighted heavily toward technology companies, was down 2.8 per cent.
Wall Street has fallen sharply on Thursday, with tech stocks weighing heavily.Credit:AP
It sets up the Australian sharemarket…
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