Australian technology stocks fall after Wall Street retreats on Trump's tariffs

Megaport

03/03/2025 23:44

** Australian technology stocks .AXIJ fall as much as 2% to 2497.3, losing most since February-end

** Sub-index's losses in tandem with overnight Wall Street fall after U.S. President Donald Trump announced the start of 25% tariffs on Canada and Mexico .N

** Australia-traded shares of technology major Block Inc XYZ.AX XYZ.N slide 5.2%, dropping most since February 24, while software firm Megaport's MP1.AX shares ease 3.3%

** US S&P 500 .SPX posts its biggest daily percentage decline since December 18

** Sub-index down 8.8% this year

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com))