What happened
Market data indicates technology has become the weakest sector on the ASX, with the median stock sitting 43% below its 52-week high. Roughly 36% of software names—including WiseTech, Life360, Xero, and Weebit Nano—are down more than 50% from their high points.
Why it matters here
Long-duration equities are highly vulnerable to rising discount rates as Australian 10-year government bond yields trade at 5.39%. Tech stock valuations face ongoing pressure until long-term interest rate expectations stabilize across domestic and global markets.
What to watch
Australian 10-year bond yield movements and upcoming technology company earnings reports for valuation relief.
Source
marketindex.com.au