ASX falls as tech sell-off flows from Nasdaq to Australian market

 The Australian share market is following a negative lead from Wall Street, where a tech sell-off over recent weeks has dragged the Nasdaq closer to a "correction". 

A technical correction is where the value of an index falls 10 per cent or more. Since its most recent peak in mid-November, the Nasdaq has lost around 7 per cent of its value.

Most of that has come since the new year started, with Wall Street's tech-heavy index off 4.5 per cent so far this year.

That included a 1 per cent slide on Friday that capped off the Nasdaq's worst week in almost a year, with some big names such as Tesla included in the sell-off, with the electric car maker down 3.5 per cent that session.

Read More: https://www.abc.net.au/news/2022-01-10/asx-wall-street-markets-australian-dollar/100747342



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