The Appen Ltd (ASX: APX) share price is plunging amid a broader sell-off in the company’s sector.
At the time of writing, the Appen share price is $6.43, 4.46% lower than its previous close.
Meanwhile, the tech sector is struggling. Let’s take a closer look at how the provider of artificial intelligence data and its peers are performing on Wednesday.
What’s going on with the Appen share price?
The Appen share price is suffering on Wednesday, alongside its peers on the ASX 200.
Right now, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is falling 2.47%, making it the market’s worst performing sector.
In fact, the Computershare Limited (ASX: CPU) share price is the only ASX 200 tech stock trading in the green. It’s up 0.08% right now.
It’s not such a blood bath on the S&P/ASX All Technology Index (ASX: XTX). Though, the index has slipped 1.75%.
The sector’s struggles follow a devastating session on the tech heavy Nasdaq Index overnight (Australia time). The Nasdaq-100 plunged 3.87% in Tuesday’s session overseas.
The Appen share price is currently 42% lower than it was at the start of 2022. It has also dropped 57% since this time last year.