Aussie tech stocks track U.S. peers lower, see worst day in nearly 1 month

Altium

03/02/2022 01:16

** Australian tech stocks  .AXIJ  down as much as 5.8%,
their worst intraday session in nearly a month amid broader
sell-off
    ** Market sentiment on Wall Street turned sour after Meta
Platforms Inc  FB.O  plunged 20% as it missed its earnings
estimate  .N 
    ** Losses in the sub-index were led by ASX-listed shares of
Block  SQ2.AX , which fell as much as 11.3%, tracked overnight
losses made by its U.S.-listed shares  SQ.N 
    ** Software firm Xero  XRO.AX  slips as much as 6.6% while
Altium  ALU.AX  skids 5.2% 
    ** AXIJ on track for a second straight session of losses and
down ~16.5% this year, as of last close 

    

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))