US tech sell-off weighs on Australian sharemarket

Technology shares on the Australian sharemarket suffered a blow on Wednesday following negativity on Wall Street. The tech-heavy Nasdaq index recorded its third worst first-day performance since the 2001 dotcom bust, as traders reined in their bets on the scale of interest rate cuts in the US . The technology-heavy Nasdaq index dropped the most in more than two months. Credit: AP The S&P/ASX 200 fell 64.2 points, or 0.8 per cent, to 7563.6 at about 11am AEDT as tech stocks and miners led the decline and all sectors except consumer staples traded in the red. The operator of Dan Murphy’s, Endeavour Group (up 1.9 per cent), was the…