ASX 200 tech correction? 5 of the worst-hit shares

Its a sea of red for ASX 200 tech shares. Here are some of today's worst-hit shares like Zip.

| More on:
man grimaces next to falling stock graph

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

S&P/ASX 200 Index (ASX: XJO) tech shares plunged on Wednesday, following a sharp overnight selloff on Wall Street.

Major US indices logged a sea of red with the S&P 500, Nasdaq Composite and Dow Jones Industrial Average down 2.04%, 1.63% and 2.83% respectively.

Headlining the selloff was a jump in benchmark 10-year US Treasury yields, trading at its highest levels since June.

The yield on the benchmark 10-year Treasury note spiked in the past week, surging 242 basis points from 1.304% to 1.546%.

ASX 200 tech shares have thrived under a low-interest rate environment.

The opposite is now unravelling as the Federal Reserve signalled last week that it could begin to reverse its pandemic stimulus and raise interest rates sometime next year.

5 worst-hit ASX 200 tech shares on Wednesday

Tyro Payments Ltd (ASX: TYR)

Things were looking good for the Tyro share price in September, rallying back to pre-COVID levels of ~$4.30 on Monday.

It looks like the recent weakness in tech and broader market volatility has stopped Tyro's road to recovery.

Its shares tanked 5.34% today to $3.90.

Afterpay Ltd (ASX: APT)

Weakness in the Afterpay share price might come as no surprise following Square's selloff overnight.

Afterpay shares have closely tracked the performance of Square after the US payments company came forth with a $39 billion takeover offer in early August.

The Afterpay share price is currently trading 4.11% lower to $122.

Nextdc Ltd (ASX: NXT)

The Nextdc share price has fallen off a cliff in recent days, down 12.62% since last Thursday, 23 September.

Shares in the data centre provider extended their losses on Wednesday, down another 3.77% to $11.99.

Xero Limited (ASX: XRO)

The Xero share price fell off a cliff on Tuesday, sliding 6.49% to $140.10.

The selloff continued today, down another 3.67% to $135.20.

The company has not released any market sensitive announcements since its FY21 results on 13 May.

Altium Limited (ASX: ALU)

Its been a wild ride for Altium shares after it plunged 14.25% on the day of its FY21 results before a V-shaped recovery to 2-month highs.

Volatility continues for the software company, down 2.68% to $34.65 in today's trading session.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Altium, Tyro Payments, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Altium. The Motley Fool Australia has recommended Tyro Payments and carsales.com Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Technology Shares

A businessman stacks building blocks.
Technology Shares

6% gain! What's up with Block shares today?

Block shares are up more than 34% since 2 May.

Read more »

Happy work colleagues give each other a fist pump.
Technology Shares

Guess which ASX 200 technology stock has outperformed Nvidia over the past 5 years?

This company has been nothing short of impressive.

Read more »

Buy, hold, and sell ratings written on signs on a wooden pole.
Technology Shares

After surging 13% yesterday, are TechnologyOne shares a buy, hold or sell according to Macquarie?

Valuations matter when investing, and Macquarie feels no different.

Read more »

Two smiling work colleagues discuss an investment or business plan at their office.
Technology Shares

Why Goldman Sachs rates this ASX tech share as a top buy

Let's see why the broker rates this stock highly right now.

Read more »

A woman sits at her computer with her hand to her mouth and a contemplative smile on her face as she reads about the performance of Allkem shares on her computer
Technology Shares

WiseTech shares have surged 34% since April. Is it too late to buy?

Can WiseTech shares keep charging higher? Here’s what this investing expert expects.

Read more »

A man in full American NFL playing kit crouches over with his arms across his chest in a defensive stance against a dark background.
Technology Shares

ASX 300 tech stock charges 7% higher to record high on stellar results

This tech stock delivered another impressive result this morning.

Read more »

a man sits at his desk wearing a business shirt and tie and has a hearty laugh at something on his mobile phone.
Technology Shares

Up 87% in 12 months: Why this ASX tech share is still a top buy

This technology business still has loads of potential, according to a fund manager.

Read more »

a group of three cybersecurity experts stand with satisfied looks on their faces with one holding a laptop computer while he group stands in front of a large bank of computers and electronic equipment.
Technology Shares

2 ASX 200 tech stocks Morgans rates as buys

The leading broker has named a couple of shares to buy right now.

Read more »