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ASX tumbles as major blue chips trade ex-dividend and after Wall Street slumps on rising bond yields – ABC News

The Australian share market loses ground as top companies trade ex-dividend following another sell off of overvalued technology giants on Wall Street.

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Australian shares ended the day in the red as major companies traded without the rights to their dividends and following a tech-led sell-off on Wall Street because of rising bond yields.
Key points:

  • Australian shares pulled down by heavyweights trading ex-dividend and Wall Street sell off
  • All Ordinaries down 1pc to 7001, ASX down 0.8pc to 6,761
  • Myer sees rise in half year net profit thanks to JobKeeper and rent relief

The Australian share market fell steeply in early trade but came off its lows…

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