Aussie tech stocks track weak Wall Street, hit 2-week low

Brainchip Holdings

19/09/2022 05:03

** Australian tech stocks  .AXIJ  drop as much as 1.7% to
their lowest level since Sept 7  
    ** The domestic tech sub-index tracked Friday's losses on
the Nasdaq composite index  .IXIC , as a warning of impending
global slowdown from FedEx Corp  FDX.N  hastened investors'
flight to safety  .N 
    ** FedEx's move followed remarks from the World Bank and the
IMF, both of which warned of an impending worldwide economic
slowdown
    ** ASX-listed shares of Block Inc  SQ2.AX  led losses in the
index to fall 4.1%, followed by Computershare  CPU.AX , down
3.9%    
    ** Shares of Brainchip Holdings  BRN.AX  and Link
Administration  LNK.AX  fall 3.8% and 3.2%, respectively    
    ** AXIJ stock on track for a fifth straight session of
losses 
    ** Stock down 29.8% this year, as of last close 

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