Technology shares plunge in ASX decline

By AAP Newswire

Jan 19, 2022

Technology shares have borne the brunt of wide-ranging selling on the ASX as investors favoured higher bond yields.

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A 2.56 per cent drop for technology shares made them the worst performers amid a market decline of aboutÂ one per cent on Wednesday.

Afterpay shares had their final day on the ASX before the company merges with US payments giant Block.

Afterpay traded for as little as $2.65 in 2017 to as much as $160.05 last year.

In its last trading day, shares were down 2.18 per cent to $66.47.

The benchmark S&P/ASX200 index closed down 76.3 points, or 1.03 per cent, to 7332.5 points.

The All Ordinaries index closed lower by 79.2 points, or 1.02 per cent, to 7656.6 points.

The Australian dollar was buying 71.88 US cents at 1625 AEDT, lower from 71.91 US cents at Tuesday's close.

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