Aussie tech stocks fall most in nearly 7 weeks, tracks Wall Street losses

Brainchip Holdings

07/12/2022 01:32

** Australian tech stocks  .AXIJ  fall as much as 2.9%,
their worst day since Oct 20, if losses hold  
    ** The tech sub-index tracks overnight losses on Wall Street
as investors fretted over U.S. Federal Reserve rate hikes and
further talk of a looming recession  .N 
    ** Shares of Brainchip Holding Ltd  BRN.AX  falls as much as
8.8% to lead losses in the sub-index, while Megaport Ltd
 MP1.AX  falls as much as 7.2% 
    ** Australia-listed shares of Block Inc  SQ2.AX  fall as
much as 3.4% 
    ** Sub-index hits lowest level since Nov 15
    ** AXIJ down 31.2% YTD as of last close 
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))