ASX to rise, semis hit by selling wave

Australian shares are set to open higher amid volatile trading on Wall Street as selling pressure hit the tech sector, in particular semiconductor stocks. The Australian dollar fell sharply, in line with a surging greenback as expectations for higher US interest rates heighten.

ASX 200 futures were up 35 points or 0.4 per cent to 8787, paring earlier gains as US stocks extended losses late. In New York, the S&P 500 was 1.4 per cent lower at the close, paced by a 3.7 per cent fall in the information tech sector. The Nasdaq Composite lost 2.2 per cent.

Source: https://www.afr.com/markets/equity-markets/asx-to-rise-a-tumbles-semis-hit-by-selling-wave-20260624-p609hd