Tech stocks take a hit in ASX slump
The AFR reported that the share market has been undergoing a correction in relation to technology stocks. It mentioned Afterpay, which saw its share value decline around 30%. The adjustments in ASX follow 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%.