Bank of England raises rates for first time since 2023, warns another move likely
Nasdaq on course for correction, $2.6 trillion loss
Before the bell: ASX steady as Wall Street dives
Australian shares are set to open slightly higher on Friday morning, insulated from a Wall Street selloff led by investors bailing from tech giants.
S & P/ASX 200 futures were up 8 points, or 0.1 per cent, to 9086 near 3.30am (AEDT).
The Nasdaq was down almost 4 per cent, while the semiconductor index plunged 10 per cent before paring losses.
Investors bet that Democrats’ sweep of US Congress would mean a clamp down on the untrammelled growth of the artificial intelligence industry.
The volatility index spiked 35 per cent to a seven-month-high, while the S & P 500 was on track for its worst day since President Trump’s ‘Liberation Day’ tariffs.
