Australian tech stocks fall as Nvidia losses weigh on Wall Street
XLK•Australian technology stocks fell as much as 1.4% in early trade, while the broader benchmark dropped 0.8%. The tech sub-index was still on track for a 2.6% weekly gain.
1. Early trade declines
Australian technology stocks fell as much as 1.4% in early trade, while the broader benchmark was down 0.8%. The tech sub-index was on track to gain 2.6% for the week.
2. Stocks and yearly performance
Index majors WiseTech Global and Xero fell as much as 1.6% and 1%, respectively. The tech sub-index was down 15.5% year to date, compared with a 4.1% rise in the broader benchmark. The Nasdaq Composite ended lower overnight after Nvidia shares fell following CEO Jensen Huang's resignation.
