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ASX set for flat start, tech stocks drag on Wall Street

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Australian shares are set for a sluggish start on Tuesday, after a sell-off on Wall Street as tech stocks dragged.

Tech stocks knocked Wall Street on TuesdayThe ASX 200 closed up 127 points on Monday, or 1.9 per cent, to 6,706, extending gains to a third session.US stocks closed lower on Monday, after oscillating earlier in the session, with weakness in interest-rate-sensitive megacaps such as Amazon.com, Microsoft and Alphabet among the worst performers.

The Dow Jones Industrial Average fell 62.42 points, or 0.2 per cent, to 31,438. The S&P 500 lost 11.63 points, or 0.3 per cent, to 3,900. The Nasdaq Composite dropped 93.05 points, or 0.8 per cent, to 11,514. They also appear set to post losses for June, which would mark three consecutive down months for the tech-heavy Nasdaq, its longest losing streak since 2015.

 

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