Australian tech stocks track Wall Street plunge to erase Tuesday's gains

SiteMinder

09/04/2025 03:37

** Technology stocks .AXIJ lose as much as 3%, erasing most of the sub-index's 4.6% gains at close on Tuesday

** Decline in tandem with Wall Street's overnight plunge, with S&P 500 closing below 5,000 points for the first time in almost a year, on negative investor sentiment and no signs of the trade war de-escalating .N

** Siteminder SDR.AX, guest acquisition platform for hotels, slips as much as 7.4% to A$3.53, lowest since late July 2023

** Software co Megaport MP1.AX sheds 4.8%;  Block Inc's ASX-listed shares XYZ.AX drop 3.3%

** AXIJ loses more than S&P/ASX 200, which is down 1%

** YTD, sub-index down 23.1%

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.sunil@thomsonreuters.com))