Australian shares are set to open lower on Thursday amid a tech-led sell-off on Wall Street.

On the macroeconomic front, the unemployment report for March is due at 11:30 am Sydney time.

Wall Street tumbled overnight, with the Nasdaq Composite falling 3.1%, while the S&P 500 and the the Dow Jones Industrial Average shed 2.2% and 1.7%, respectively.

Chip giant Nvidia drove the sell-off after it flagged a $5.5 billion charge for the first quarter due to the US government's tighter export policy on China.

Meanwhile, Federal Reserve Chair Jerome Powell said the new tariff policy further complicates the bank's dual-mandate of ensuring prices are stable while keeping maximum employment.

"We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension," Powell said.

In corporate news, De Grey Mining (ASX:DEG) said its shareholders approved the acquisition of the company by Northern Star Resources (ASX:NST), according to a Wednesday filing with the Australian bourse. It will now seek approval of the scheme from the Federal Court of Australia on April 22.

Paladin Energy (ASX:PDN) said it has been served with a class action proceeding filed in the Supreme Court of Victoria over misleading representations, according to a Wednesday filing.

Australia's benchmark index finished flat at 7,758.90 on Wednesday.