Evening Wrap: ASX 200 slides as local tech stocks crumble on NASDAQ plunge, defensives prosper, uranium stocks dive

There’s an old saying that when the US stock market sneezes, the Aussie share market catches a cold.

Well, US tech stocks sneezed (um, sneezed and keeled over) last night, so you can guess what happened to Aussie tech stocks today.

Let’s dive in! Markets

XJO Intraday Chart 18 July 2024 ASX 200 Session ChartThe S&P/ASX 200 ( XJO ) finished 21.4 points lower at 8,036.5, 0.42% from its session high and just 0.13% from its low. In the broader-based S&P/ASX 300 ( XKO ), advancers lagged decliners by a dismal 88 to 184.Moves on the ASX today were generally simple to explain. As usual, we pretty much just reflect what happened in the USA overnight (with some wiggle room around Resources and Energy stocks that usually follow commodity prices).What happened in the USA overnight? Tech got belted. More specifically, high PE-risk on got belted . Otherwise, low PE-risk off […]

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