Australian technology stocks track Wall Street performance, drop to near 7-month low

Megaport

10/03/2025 23:49

** Australian technology stocks .AXIJ fall as much as 4.6% to 2343.100, their lowest point since August 16, 2024

** The tech sub-index moves in line with Wall Street's overnight plunge, with the technology-heavy Nasdaq composite .IXIC dropping most since September 2022 on fears of a U.S. recession amid the trade war with its neighbours and China .N

** Australia-listed shares of Block XYZ.AX drop as much as 7.5% and software co Wisetech Global WTC.AX slides 5.1%

** Shares of software co Megaport MP1.AX fall 3%

** Sub-index down 10.4% so far this year

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com;))