Why are ASX tech shares all over the place today? // Motley Fool Australia

The S&P/ASX 200 Index (ASX: XJO) is cooling off today. After 5 straight days of shares in the green, the ASX 200 is down 0.7% to 6,405 points at the time of writing.

However, one sector, in particular, is bucking this broad-market trend, if a little inconsistently. ASX tech shares spiked in early morning trade this morning. Note the S&P/ASX All Technology Index (ASX: XTX). It’s up 0.81% at the time of writing, outperforming the ASX 200 handily. But soon after market open this morning, it was as high as 2,740 points – a 2.7% spike from yesterday’s close.

Let’s dig a little deeper.

When most investors think of ‘ASX tech shares’, they probably jump to the WAAAX shares – the collective name for some of the ASX’s…