The ASX tech sector has dropped this morning after the NASDAQ 100 (NDX)
fell overnight. The Afterpay Ltd (ASX: APT) share price is down 5.2%.
There has been broad declines as investors push the sell button. Keep in mind that some ASX shares are only dropping back to prices where they were at a few weeks ago. But it is noticeable that volatility is increasing.
The ASX 200 has a number of technology businesses that have dropped:
The Megaport Ltd (ASX: MP1) share price is down 6%.
The WiseTech Global Ltd (ASX: WTC) share price is down 2%.
The Appen Ltd
(ASX: APX) share price is down 3%.
Soon-to-be ASX 200 business Zip Co Ltd (ASX: Z1P) has seen its share price drop 4%.
There is a lot of red on the ASX boards today.
Vaccine delay?
Other news may also be disturbing investors today. A COVID-19 vaccine is a key hope for the world returning to normal.
However, media is reporting that clinical trials for a vaccine being developed by AstraZeneca and Oxford University has been put on hold after a participant has reportedly had an adverse reaction in the UK.
The UK vaccine is currently in phase 3 of testing after successful phase 1 and phase 2 testing. There are 30,000 participants across the world. But this is actually the second time the vaccine trial has been put on hold and this happens any time a volunteer goes to hospital when the reason is uncertain. The participant is expected to recover.
Summary
Volatility is expected. I’m surprised there hasn’t been more of it over the past few months. I’m going to continue looking for opportunities. Here are two ASX growth shares that I wrote about recently in this article as ideas including Pushpay Holdings Ltd (ASX: PPH).
