ASX drops after Wall Street’s brutal AI sell-off | Finance Report | ABC NEWS
The Australian share market fell, but nowhere near as much as US and Asian markets, which are dominated by tech and AI stocks. The Nasdaq 100 suffered its worst trading day since the height of the COVID pandemic in March 2020. Around $US2.5 billion was wiped off the value of Wall Street’s ‘big tech’ index. Investors are worried that the Democrats’ strong majorities in Congress will lead to tighter restrictions on data centre construction, which could impact AI companies’ profits. Oil prices rebounded on uncertainty about what US President Donald Trump will do next regarding the Iran War. Presented by David Chau.
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Read more here: https://www.abc.net.au/news/2026-11-06/asx-markets-business-live-news/107353758
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