- ASX200 closed 0.48% lower at 7061.70 on Thursday.
- Adore Beauty plunged 15% on trading update and FY2021 expectations.
- Global Lithium surged 50% on ASX debut following 20c/share IPO.
The Australian market closed 0.48% lower at 7061.70 as tech stocks dragged the markets down. The Australian dollar also took a hit today after China said it would cease high-level dialogue with Australia, casting doubt around the future relationship between the two trading partners.
The tech sector plummeted more than 3.5% today, again leading the losses and weighing down the key index as Nearmap plunged 23.31% and Appen sank 21.10%.
Bitcoin is trading 4.85% higher in the last 24-hours at US$56,875.66 at 4:40pm AEST. Ethereum is trading 5.34% higher at US$3419.54 this afternoon.
Shares in Adore Beauty, Australia?s first cosmetics retailer to sell exclusively online, sank 15% today after the company released a trading update including expected revenue growth of 43-47% for FY 2021, which falls short of market expectations.
Making headlines, Perth-based resources company Global Lithium soared as high as 50% on ASX debut today. Following an IPO at 20c/share and a market valuation of $26.4m at listing, the Pilbara-focused lithium explorer surged 50% before closing the session 40% higher at 28c/share.
Peloton has recalled all of its Tread+ and Tread treadmills following a death and more than 35 reports of injuries resulting from use of the products.