- ASX200 closed 0.68% lower at 7017.8.
- Zip Co rallied on Bank of America news & Afterpay update.
- Freelancer surged on record Gross Payment Volume Q1 results.
The Australian market closed 0.68% lower today at 7017.8 as tech stocks weighed down the key index, and every sector except Communication Services finished in the red.
Tech stocks posted the biggest losses today as Altium shed almost 5%, Nuix lost more than 2.3%, and Nearmap and Megaport both closed the day 1.8% lower.
Bitcoin continues to slump this afternoon, shedding 2.7% in the last 24-hours trading at US$55,251.02 at 4:00pm AEST.
Australian BNPL provider Zip Co rallied today following the announcement that the Bank of America is a new substantial holder of the company. Bank of America acquired 34 million shares, or 6.15% of the company. The surge in Zip today is also linked to competitor Afterpay looking to list in the US, a move Zip has been rumoured to be planning.
Making headlines, Australian-based online jobs marketplace Freelancer surged 6% today after providing a Q1 update including a record high Gross Payment Volume at US$192.9m, up 39% from the previous corresponding period.
And Facebook has announced it?ll roll out a number of new audio features including Live Audio Rooms over the coming months in a bid to compete with the exclusive and popular Clubhouse app.