Australian tech stocks track Wall Street peers lower

Weebit Nano

10/11/2023 01:08

** Australian technology stocks  .AXIJ  fall as much as 1.9%
to their lowest level since Nov. 2 
    ** U.S. stocks closed lower on Thursday, as Treasury yields
climbed after disappointing auction of 30-year bonds and
comments from Federal Reserve Chair Jerome Powell  .N  
    ** Powell said central bank officials "are not confident"
interest rates are high enough to tame inflation 
    ** Shares of Xero Ltd  XRO.AX  fall as much as 3.9% to hit
their lowest level since May 17 
    ** Shares of Weebit Nano  WBT.AX  drop as much as 3.3% to
become the top loser among tech stocks 
    ** AXIJ up 16.8% this year, as of last close, vs a 0.3% fall
in the benchmark index  .AXJO 

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