ASX to rise, $A tumbles, Nasdaq hit by ‘chip-wreck’ (opens original article in a new tab)

Australian shares are set to open higher amid volatile trading on Wall Street as selling pressure hit the tech sector, particularly semiconductor stocks. The Australian dollar fell sharply, aligning with a surging US dollar due to heightened expectations for higher US interest rates.

• ASX to rise, $A tumbles, semis hit by selling wave
• Semiconductor stocks fell more than 7 per cent, with Sandisk and Micron Technology down over 10 per cent
• US rate expectations drive $A and $US fluctuations