Australian technology stocks have suffered their worst single-day losses since early in the pandemic, while the local bourse hit a fresh 14-week low after declining for a fourth day in five sessions.
The benchmark S&P/ASX200 index fell steadily on Thursday to finish nearly on the lows of the day, dropping 123.7 points to 6,941, a 1.8 per cent fall.
The broader All Ordinaries dropped 137.8 points to 7,166.6, a fall of 1.9 per cent.
The tech sector declined by 8.7 per cent, sinking to its lowest level since March 2020. It was the worst day for ASX tech stocks since March 18, 2020.
The Australian dollar declined further, hitting a fresh 22-month low. The Aussie was buying 68.83 US cents, down from 69.71 US cents at Wednesday's close.