Aussie tech stocks hit over 3-mth low on Wall Street slump

Brainchip Holdings

03/10/2022 04:38

** Australia's technology stocks  .AXIJ  fall as much as
3.1%, its lowest level since June 24
    ** Sub-index tracks overnight declines in Wall Street peers,
with tech-heavy Nasdaq index posting its second straight monthly
loss on the back of surging inflation, rising rates and
recession fears  .N 
    ** Software firm Brainchip Holdings  BRN.AX  among the top
losers among Aussie tech stocks, slipping as much as 4.6%
    ** Software maker Xero Ltd  XRO.AX  retreats up to 3.8% to
hit its lowest since April 2020
    ** Shares of Novonix  NVX.AX  and Link Administration
 LNK.AX  drop up to 6% and 3.2%, respectively
    ** AXIJ on track to post worst session since Sept. 23, if
losses hold
    ** As of last close, AXIJ down ~35.8% so far this year,
compared to a 13% drop in the benchmark index  .AXJO 
 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))