After lifting 2% yesterday, the ASX 200 retreated 0.3% today driven by a selloff in tech stocks.

The local index opened higher in the morning, inching closer to its all time high before losing momentum after the mid session break.

The tech sector plunged by almost 3%, following a 1% fall in Nasdaq overnight.

Leading the tech rout were stocks like Xero (ASX:XRO) and Afterpay (ASX:APT), which were both down by around 4%.

Healthcare was another sector deep in the red today, down by around 2% as heavyweights like Cochlear (ASX:COH) and ResMed (ASX:RMD) were down 3%.

Meanwhile, energy stocks traded higher after oil prices rose 1.5% overnight as OPEC members agreed to stick to their planned increased output for February.

 

BIG CAP WINNERS

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Chipmaker Brainchip Holdings (ASX:BRN) soared another 18.5% today, following its 17% rise on Tuesday.

The company announced yesterday the appointment of Pia Turcinov as a non-executive director. The BRN stock price might also have been buoyed by Tesla’s record fourth quarter sales announced on Monday.

After hitting its all time highs yesterday and becoming the third biggest bank in Australia by market cap (surpassing the ANZ Bank), Macquarie Group (ASX:MQG) was once again in the winners’ circle today rising by more than 2% on no specific news.

BIG CAP LOSERS

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Imugene (ASX:IMU) led the healtcare selloff today, falling by around 9%.

Yesterday, the immunotherapy company announced the completion of its Phase Ia monotherapy dose escalation for PD1-Vaxx, a drug designed to treat tumours such as lung cancer.