BUZZ-Australia's technology stocks track Wall Street lower, hit 2-year low
Reuters
Feb 04
BUZZ-Australia's technology stocks track Wall Street lower, hit 2-year low
** Australian technology stocks .AXIJ fall as much as 7.3% to their lowest level since February 7, 2024
** Wall Street ended lower overnight, with Nasdaq declining 1.4%, as investors worried about AI creating more competition for software makers .N
** Accounting software maker Xero XRO.AX and TechnologyOne TNE.AX among top laggards on the benchmark index .AXJO, which is down 0.2%
** Xero falls 13.2%, TechnologyOne down 8.4% and logistics software maker WiseTech Global WTC.AX drops 8.6%
** Sub-index down 16.1% so far this year
(Reporting by Sherin Sunny in Bengaluru)
((Sherin.Sunny@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.