Trading Day: Tech rout leads ASX fall amid US inflation jitters; iron ore futures hit miners

Australia's share market suffered its biggest 3-day fall since January as US rate rise fears hit global markets, Xero disappointed on earnings and guidance and plunging iron ore miners knocked the big miners. 

Global markets are being haunted by worries about inflation. Picture: AAP

Stocks having their worst three-day fall since late January as US rate rise fears continue to hit global markets.  Xero down 11% and Afterpay 4.4% lower. Orica profit sinks.

The S&P 500 dropped 2.2 per cent, the Dow retreated 2 per cent and the Nasdaq slumped 2.7 per cent. European stocks steadied. Locally, a Treasury Wine investor revealed more about the company’s plans.