ASX retreats as retailers fall, tech stocks gain; Nick Scali tanks
The Australian sharemarket declined as retail stocks fell following a profit warning from furniture retailer Nick Scali. Meanwhile, tech stocks saw gains, tracking positive sentiment from the U.S. market.
Why it matters
Illustrates the impact of cost-of-living pressures and interest rates on consumer spending and retail sector performance.
— 6:01pm , first published October 22, 2026 — 5:28am
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Share A A A The Australian sharemarket declined on Thursday, despite a strong lead from Wall Street where strong results from SpaceX and other big companies boosted sentiment. Furniture retailer Nick Scali’s shares plummeted after a profit warning.
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