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Live updates: ASX to fall as tech stocks like Microsoft drop value on Wall Street

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Tech stocks on Wall Street have taken a battering, with Microsoft experiencing its worst day in years. Australia stocks are likely to fall as well. Follow the day's events and insights as they happen with our business reporters on the ABC News live markets blog.

Tech stocks on Wall Street have taken a battering, with Microsoft experiencing its worst day in years. This is dragging down US markets and will likely bleed into Australian stocks.

Follow the day's financial news and insights from our specialist business reporters on our live blog.Apple's sales for the fourth quarter were almost $US95 billion which beat expectations. They were bumped by strong sales of the latest iPhone. Yet other product lines missed expectations and the China sales total was less than Wall Street expected,customers are downloading a new version of its iPhone operating system that uses AI, at twice the rate they were a year ago.

The OS has features like helping people write an email in a "more professional" tone. Some features of it have been delayed.This morning you'll be hearing a lot about tech stocks, with Microsoft taking a hit and Apple releasing results.S&P 500 down 1.9%, the Dow off 0.9% and the tech heavy Nasdaq off a whole 2.8%.

 

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