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ASX set to slide as tech stocks send Wall Street lower – Sydney Morning Herald

Technology stocks dragged Wall Street lower but investors were boosted after a speech by US Fed chief Jerome Powell.

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The technology-heavy Nasdaq Composite was down 1.6 per cent after being down 3.9 per cent earlier. The Dow Jones Industrial Average, which is much less exposed to tech stocks than the two other indexes, was down 0.3 per cent.
The companies that were dragging down the overall market were the big tech names that had pushed the market significantly higher the past year: Apple, Amazon, Microsoft and Tesla. Since the pandemic began, investors consistently pushed the prices of these companies stocks to…

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