ASX 200 closes lower on tech selloff; Magellan flags $5.5bn in outflows

ASX falls as investors sell tech and real estate stocks. Unibail-Rodamco-Westfield and IAG jump on updates, Magellan sees $5.5bn outflows and Baby Bunting a record profit.

A surge in US inflation may weigh on the local market as traders start to price in higher interest rates for the world’s largest economy. Picture: NCA NewsWire / Gaye Gerard

Welcome to the Trading Day blog for Friday, February 11. ASX fell on broad losses led by tech and real estate. But it followed IAG jumping on a return to profit and Unibail-Rodamco-Westfield rallying on a shopping centre deal. 

The benchmark S&P/ASX 200 index finished lower by 1 per cent to 7217.3 to end the week 1.4 per cent higher.

The Dow Jones Industrial Average closed down 1.5 per cent, the S&P 500 lost 1.8 per cent and tech-heavy Nasdaq was 2.1 per cent lower.

Iron ore traded climbed 4.8 per cent overnight to $US153.75 a tonne, while the US Nymex crude price added 0.4 per cent to $US89.99 a barrel.

Originally published as ASX 200 closes lower on tech selloff; Magellan flags $5.5bn in outflows