The ASX 200 is down in the early moments of trading on Thursday following a mixed performance in the US.
The index sank about 0.2 per cent after the first 25 minutes of trading with accounting software company Xero down 7.2 per cent amid investor backlash to its $4b bet on American accounting and invoicing platform Melio Payments.
Credit Corp Group is down about three per cent while family safety app-owner Life360 and data centre owner DigiCo Infrastructure have both lost about 2.5 per cent.
Wall Street was a mixed bag on Wednesday despite the major indexes climbing back to their February highs after the calamity of Donald Trump’s “Liberation Day” tariffs.
“It almost feels like back to your regularly scheduled bull market,” Ryan Detrick, chief market strategist at Carson Group in Omaha said.
“We’ve dealt with the tariffs, we’ve dealt with the Middle East drama, but stocks continue to defy the odds by moving higher with the realization that the U.S. economy remains quite resilient.”
Shares in chip-maker Nvidia jumped to a new record high, boosting its market cap to US$3.77 trillion, bumping Apple to reclaim the title of world’s most valuable company, after rallying more than 60 per cent since April.
The Dow Jones sank 0.3 per cent, the S&P 500 finished flat and the Nasdaq added 0.3 per cent.
London’s FTSE 250 Index shed 0.1 per cent on Wednesday, Germany’s DAX fell 0.6 per cent and the STOXX Europe 600 sank 0.7 per cent.
New Zealand’s NZX has shed 0.3 per cent while Japan’s Nikkei 225 is up 0.6 per cent since trading began on Thursday.
-With Reuters