Australia's tech stocks top loser in benchmark after U.S. futures recoil

TECHNOLOGY ONE

24/05/2022 02:20

** Australian technology stocks  .AXIJ  slump as much as
2.7% - biggest pct loser in the benchmark stock index
    ** U.S. stocks ended higher on Monday, supported by gains
from banks and a rebound in market-leading tech shares 
    ** However, Nasdaq futures  NQc1  lose 1.3%, with traders
blaming an earnings warning from Snap  SNAP.N , which saw shares
in the Snapchat owner tumble 28%  urn:newsml:reuters.com:*:nL3N2XF3MH urn:newsml:reuters.com:*:nL2N2XF2NL
    ** ASX-listed shares of Block Inc  SQ2.AX  lead losses in
the domestic sub-index to drop 6.6%
    ** Shares of TechnologyOne Ltd  TNE.AX  and Wisetech Global
 WTC.AX  were also down 4.6% and 3.1%, respectively
    ** AXIJ sub-index down more than 30% so far this year,
versus a ~4% decline in the benchmark stock index  .AXJO 
    
    
    
    

 (Reporting by Indranil Sarkar in Bengaluru)
 ((Indranil.Sarkar@thomsonreuters.com;))