Business
ASX set to retreat as tech stocks sink on Wall Street – Sydney Morning Herald
The ASX is set to edge lower at the open after another tick up in bond yields gave investors pause on Wall Street.
Technology companies led stocks lower on Wall Street as another rise in bond yields rattled investors.
The S&P 500 fell 1.3 per cent on Wednesday (US time), and the tech-heavy Nasdaq dropped 2.7 per cent. The Dow Jones slid by 0.4 per cent. It sets up the Australian sharemarket to fall, with futures at 7.59am AEDT pointing to a drop of 38 points, or 0.6 per cent, at the open.
Tech shares are sharply lower on Wednesday on Wall Street. Credit:NYSE
When bond yields rise quickly, as they have in recent…
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