Australian tech stocks face worst day in nearly a month on Wall Street weakness

Weebit Nano

21/12/2023 02:26

** Australian technology stocks  .AXIJ  fall up to 1.1%, set
for worst day since Nov. 24 if current losses hold 
    ** Wall Street ended lower on Wednesday after an abrupt
mid-afternoon nosedive ended Wall Street's impressive rally
driven by rate-cut hopes  .N 
    ** AXIJ on track for a second day of fall
    ** Shares of tech major Xero  XRO.AX  fall as much as 1.9% 
    ** Shares of Weebit Nano  WBT.AX  and Life360  LIFX.PK 
decline as much as 5.5% and 4.5%, respectively 
    ** Weebit Nano and Life360 among top losers in the sub-index
    ** Tech stocks up 29.5% this year, as of last close, vs a
7.1% rise in the benchmark index  .AXJO 

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))