ASX 200 sinks on Thursday as the index's largest tech company WiseTech dives amid board exodus
WiseTech fell 1.2 per cent in the first 30 minutes of trading after two long serving non-executive directors, Charles Gibbon and Michael Gregg, exited the business.
It comes amid an array of scandals and allegations involving its executive chairman Richard White and the abrupt resignation of four board members in February over 'intractable differences' about Mr White's ongoing role at the $36b company.
The pair will be replaced by Sandra Hook, a former News Corp and Fairfax executive, and Rob Castaneda, a tech company founder.
The ASX 200 is down 0.1 per with Evolution Mining sinking 2.9 per cent, aluminium producer Alcoa Corporation shedding 2.3 per cent and aged housing company Lifestyle Communities plunging 2.6 per cent.
The fall follows the US Federal Reserve keeping the cash rate on hold as expected while the central bank assesses the impact of Trump's economic policies.
"For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance," Federal Reserve Chair Jerome Powell told reporters on Wednesday.
On Wall Street, the Dow Jones slumped 0.1 per cent, the S&P 500 finished flat and the Nasdaq rose 0.1 per cent.
London's FTSE 250 Index added 0.3 per cent on Wednesday, Germany's DAX shed 0.5 per cent and the STOXX Europe 600 dropped 0.4 per cent.
New Zealand's NZX 50 Index is down 0.1 per cent on Thursday, while Japan's Nikkei 225 has plummeted 0.7 per cent.
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