You are viewing:-
you're reading...
1.Market Observations

16 Oct 2018 (AFR) – Relentless selling savages ASX tech stocks – Technology rout spearheads ASX slump

(16 October 2018, AFR, p1, by Vesna Poljak)

‘A return of savage selling for the market’s technology stocks has hit the high-flying sector and caused the value of Afterpay shares to fall more than 30 per cent, and Wisetech, Appen and Altium more than 20 per cent, from their August highs. The S&P/ASX 200 Index declined 58 points on Monday, settling at the lowest level since April, for a loss of 0.99 per cent to 5837.1 points. The carnage on the ASX follows a near-correction by the Nasdaq Composite index last week, the home of the FAANG stocks Facebook, Amazon, Apple, Netflix and Google. From its record high two months ago to last week’s lows, the tech-heavy index fell more than 9 per cent, trimmed to around 7 per cent on Friday’s Wall Street recovery.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

Advertisements

About robertbrain

Brainy's Share Market Toolbox. Read the honest truth about the sharemarket. Develop or fine tune your investing/trading strategies using share price charts (technical analysis), or learn about the investment strategies of others. Melbourne (Australia) based - supporting share market investors and traders to build wealth through smarter investing using my Share Market Toolbox arsenal of weapons to tackle the market.

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Advertisements
%d bloggers like this: