Business
ASX snaps four week losing streak – The Australian Financial Review
The Australian sharemarket gained 0.1 per cent for the week, snapping a four week losing streak. The S&P/ASX200 Index fell 0.3 per cent on Friday as weakness in banks offsets gains in the big three iron ore miners.
Investors are cooling on tech stocks, with the sector down sharply in the first few weeks of September, a period where investor have also started to question if central bank policy is approaching limits.
The ASX technology index is down more than 7 per cent since the start of the month. Similarly, the US FAANG index is down more than 9 per cent in September. FAANG includes Facebook, Amazon, Apple, Netflix and Google owner Alphabet.
Those losses follow very strong gains for technology stocks ar…
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