AU Morning Wrap: ASX Falls; Tech, Energy Lower

Wednesday, the emphasis was on caution as some investors focused on interest rates staying at their current high level for a longer period of time. The $S&P 500 Index(.SPX.US)$ fell 1.6 per cent on the day, the largest one-day percentage decline since September. The $Nasdaq Composite Index(.IXIC.US)$ fell 2.2 per cent as each of the so-called Magnificent Seven companies logged losses, and the $Dow Jones Industrial Average(.DJI.US)$ retreated 0.8 per cent, or 317 points.

The $S&P/ASX 200(.XJO.AU)$ retreated from a record high on Thursday to fall 0.8 per cent as the resources, energy and tech sector led the market lower.

$Nufarm Ltd(NUF.AU)$: Shares in Nufarm dropped 7.7 per cent after it warned of a "challenging" first half.

$Block Inc(SQ2.AU)$: Tech bellwether and Afterpay-owner Block dropped 3.5 per cent.

$IGO Ltd(IGO.AU)$: Lithium play IGO Ltd is down 4.9 per cent, with Mineral Resources dropping 3.8 per cent.

$Pinnacle Minerals Ltd(PIM.AU)$: Asset manager Pinnacle reports highly-anticipated earnings after the closing bell.