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ASX set to fall, Nasdaq tumbles as Yellen warns of rate hike so ‘economy doesn’t overheat’ – ABC News

Australian shares are set to open lower after a global tech sell-off overnight on concerns that interest rates may have to rise sooner than expected, but ANZ is…

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Australian shares are set to open lower after global tech stocks were sold off overnight, on concerns that interest rates may have to rise sooner than expected.
ASX futures had dropped 0.4 per cent (to 7,009 points), by 8:30am AEST.
The Australian dollar fell to 77.1 US cents (down 0.6 per cent).
On Wall Street, the Nasdaq Composite suffered its biggest drop in six weeks, as investors dumped megacap growth stocks to seek shelter in more defensive parts of the market.
Highly valued technology-related…

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