ASX Tech Sector Plunges 5.1pc Amid AI Sell-Off

ASX tech sector plunges 5.1pc amid AI sell-off

AI fears from Wall Street have hammered Australian tech stocks and dragged the sharemarket down 1.39 per cent.

ASX 200 LIVE: ASX drops 1.3pc on AI rout; Austal, WiseTech sink

Despite Friday’s drop, the ASX 200 posts a weekly gain; Cochlear misses expectations; Webjet ends takeover talks; Austal smashed on guidance blunder; gold rebounds. Follow live

ASX Falls on AI, Profit-Taking Fears

The Australian sharemarket experienced a downturn on Friday, driven by renewed anxieties surrounding artificial intelligence overinvestment and its potential disruption to software companies. The S&P/ASX 200 Index declined by 112.80 points, or 1.3 per cent, settling at 8930.70 by mid-afternoon AEDT, with eight out of eleven sectors posting losses. Despite Friday’s slump, the benchmark remains 2.5 per cent higher for the week. Tech stocks were pa…

Why WiseTech shares are plunging 11% today

WiseTech Global Ltd (ASX: WTC) shares have taken a heavy hit on Friday. In mid-afternoon trade, the WiseTech share price is down 11.08% to $42.30. Earlier in the session, the stock fell as low as $40.59 before recovering slightly. The S&P/ASX 200 Index (ASX: XJO) has also weakened during this period. It has been a brutal period for shareholders. The stock is now almost 40% lower over the past month and down around 16% this week alone. The sharp…

Lunch Wrap: ASX cops a whack as tech rolls over; Cochlear plunges 17pc

ASX down over 1pc as tech and healthcare get smashed Metals rout drags miners and lithium lower RBA hawkish, Liberals swap leader   Friday the 13th lived up to its reputation on the ASX, with the local market copping a scare by lunchtime in Sydney. The ASX 200 was down 1.25%, with the sell-off having that familiar flavour of “nobody wants to be the last one holding the bag”. Wall Street had already planted a few psychological landmines overnight…

ASX dips as tech shares slump; Westpac profit rises, Cochlear crashes

The Australian sharemarket lost ground on Friday, as tech shares struggled and Cochlear plunged.