AU Morning Wrap: ASX Falls Due to Tech Stocks; Star Drops 5%

The $Dow Jones Industrial Average (.DJI.US)$ shed some 500 points and the and $S&P 500 Index (.SPX.US)$and $Nasdaq Composite Index (.IXIC.US)$ both fell more than 1% Friday as Dow components JPMorgan Chase and Intel dragged the market lower.

The $Dow Jones Industrial Average (.DJI.US)$ shed 470.78 points (1.2%) to a preliminary 37988.3 closer, while the $S&P 500 Index (.SPX.US)$ gave up 75.46 ticks (1.5%) to a tentative 5,123.6 finish. Meanwhile, the $Nasdaq Composite Index (.IXIC.US)$ -- which hit an all-time high close Thursday -- pulled back 267.1 points (1.6%) to a preliminary 16,175.09.

The $S&P/ASX 200 (.XJO.AU)$ Index, the benchmark index in Australia, opened lower by 0.4%, or 31.4 points, at 7756.7, with technology stocks that are sensitive to interest rates leading the decline. This was an extension of the 1.6% fall from the previous week, which was attributed to rising geopolitical tensions and increasing bond yields.

$The Star Entertainment Group Ltd (SGR.AU)$, a troubled casino operator, fell by 5%, making it one of the worst-performing companies in the ASX 200 index. The company is awaiting the results of a second public inquiry into its Sydney operation, and this uncertainty has contributed to the decline in its stock price.

Trading Ex-div: $WAM Active Ltd (WAA.AU)$, $Cadence Capital Ltd (CDM.AU)$, $SDI Ltd (SDI.AU)$, $New Hope Corp Ltd (NHC.AU)$

Dividends Paid: $CAR Group Ltd (CAR.AU)$, $Kina Securities Ltd (KSL.AU)$, $Cochlear Ltd (COH.AU)$, $Saunders International Ltd (SND.AU)$