Monday’s session is proving to be a bad day for S&P/ASX 200 Index (ASX: XJO) technology shares.
The S&P/ASX 200 Info Tech Index (ASX: XIJ) is one of the worst-performing indexes today, having fallen 1.51% at the time of writing. The S&P/ASX All Technology Index (ASX: XTX) is also flopping. It’s dipped 1.59% right now.
For context, the ASX 200 is in the shallow end of the red, sporting a 0.19% drop.
So, what has caused the ASX tech sector’s slump and which shares are suffering as a result? Let’s take a look.
What’s weighing on the sector?
ASX 200 tech shares are struggling to stay afloat today despite no obvious weight having been placed on them.
While the sector often trends alongside the tech-heavy NASDAQ Composite, the New York-based market hasn’t opened yet.
Additionally, the composite recorded a record high close for the second day in a row at the end of Friday’s session. It gained 0.16% on Friday to finish at 15,971.59 points.
Additionally, there’s been no news from the sector’s biggest weights.
These ASX 200 tech shares are sinking today
The biggest loser of the ASX 200 information technology sector today is the Nuix Ltd (ASX: NXL) share price.
It’s fallen 4.61% at the time of writing and is trading at $2.90. The dip comes despite the company’s silence.
Xero Limited (ASX: XRO) is the index’s second-worst performer. Its share price is recording a drop of 3.55% and trading at $148.98.
Meanwhile, ASX favourite Afterpay Ltd (ASX: APT) is also in the red, falling 0.8% to $116.54.
In fact, only one ASX 200 tech stock is seeing its share price gain. That is Iress Ltd (ASX: IRE) – up 0.58%.
Though, unfortunately, there is no clear explanation for those movements either.