The S&P/ASX 200 Index fell 0.3 per cent to 7128.8 points. Tabcorp fell more than 80 per cent after completing a demerger. Nufarm shares dropped 14.6 per cent.
Shares on the Australian stock exchange closed weaker on Tuesday, dragged lower by technology stocks that dipped after an American mega cap plunged in after-hours trading in the US.
Gains by the banks and real estate stocks offset a 2.9 per cent fall in the tech sector. Block declined sharply, shedding 7.5 per cent. WiseTech Global and Xero each fell more than 2 per cent. In mid-caps, Nufarm shares dropped 14.6 per cent after Sumitomo sold a 15.9 per cent stake for $324 million in a block trade on Monday evening.
Overnight, Wall Street had a strong start for the week, driving away from the bear-market territory it flirted with last Friday. The SP 500 gained 1.9 per cent on Monday, led by the financial sector, while the Nasdaq rose 1.6 per cent.
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