BUZZ-Australian technology stocks drop to over two-year low on AI jitters

Reuters

02/06

** Australian technology stocks .AXIJ fall as much as 5.3% to their lowest level since December 5, 2023

** Tech sub-index heads for a 13% drop for the week, biggest percent fall since late-March 2020, if current trend holds

** Tech stocks globally were hit by concerns over disruption in data and software landscape after launch of Anthropic's new AI tool

** Investors now fret about large capex plans outlined by U.S. tech giants .N

** Logistics software provider WiseTech Global WTC.AX down 5.5% and accounting software maker Xero XRO.AX drops 2.3%

** AXIJ lost 9.4% in January, posting its sixth consecutive monthly loss

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))

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