ASX LIVE: ASX to drop, US stocks end lower on late swoon

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Australian shares are set to drop more than 1pc. Wall Street stumbles into the close (now 7am AEDT). Bitcoin leaps. Fed to review SVB failure. Follow updates here.

ASX futures were down 117 points or 1.7% to 6989 near 7am AEDT, paring earlier losses.On Wall St at the close: Dow -0.3% STesla +0.6% Apple +1.3% Amazon +1.9% Microsoft +2.1%The local currency surged 1.

3 per cent; the Bloomberg dollar spot index was 0.7 per cent lower.The yield on the US 10-year note plunged 16 basis points to 3.54 per cent at 4.16pm in New York; it earlier fell below 3.50 per cent. The two-year yield fell to 3.99 per cent, a more than 100 basis point drop from a week ago.

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