Friday is proving to be a rough day for ASX tech shares, with some of the sector's most recognisable participants among its worst performers.
At the time of writing, the S&P/ASX All Technology Index (ASX: XTX) has slumped 3% while the S&P/ASX 200 Information Technology Index (ASX: XIJ) has fallen 3.95%.
For context, the S&P/ASX 200 Index (ASX: XJO) is also in the red, having slipped 0.82%. The All Ordinaries Index (ASX: XAO) is slightly worse off, slumping 0.92%.
Let's take a look at which ASX tech shares are suffering and what might be weighing on the sector.
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What's dragging ASX tech shares lower today?
Shares in some of the market's favourite tech shares are plummeting on Friday for no obvious reason.
The Zip Co Ltd (ASX: Z1P) share price is being pummelled. It's currently falling 12.3% to trade at $1.64 – its lowest point in nearly 2 years.
The Block Inc CDI (ASX: SQ2) share price is also struggling today. It's currently down 9.52% to $152.46.
Meanwhile, shares in EML Payments Ltd (ASX: EML), Tyro Payments Ltd (ASX: TYR), and Novonix Ltd (ASX: NVX) are down 6.3%, 5%, and 4% respectively.
The ASX tech sector's suffering might be being driven by similar struggles in the US market overnight. The tech-heavy Nasdaq Composite (NASDAQ: .IXIC) slumped 1.6% on Thursday.
Block's New York-based listing (Block Inc (NYSE: SQ)) also tumbled 8.1% while most of Australia slept.
