Market Close 24 Feb 25: The tech sector's biggest decline in years weighs on Aussie markets

The Aussie market started the week with little movement, as declines in tech and resource stocks were balanced by gains in the big banks. Despite slipping earlier, the market recovered from its worst levels, continuing a rough streak of losses over the past six weeks. Globally, the US market saw its worst session of the year, with tech giants dragging the S&P 500 lower. Locally, earnings season is in full swing, with major results shaking up stocks—Wisetech plunged 20% after boardroom turmoil, while EVT jumped 12.5% on strong earnings. Looking ahead, key earnings from companies like Woolworths, Qantas, and Nvidia, along with inflation data from Australia and the US, will be in sharp focus.     The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.