A Wall Street sell-off spilled into Australian shares on Monday with property and tech stocks taking the brunt on worries about global growth as China intensifies its zero-COVID policy and deepens the supply chain crisis.P/ASX 200 index slipped 1.2 per cent, or 85 points, to close at 7120.6 points, its lowest since mid-March. The SP All Ordinaries index, which tracks a broader number of shares, shed 1.5 per cent to 7357.9 points.
Suppliers face the longest delays in more than two years in delivering raw materials to their manufacturing customers and Chinese port activity fell below levels seen during the first coronavirus outbreak in 2020. Tyro Payments dropped 2.3 per cent to $1.05, the lowest since the pandemic started, while WiseTech shaved off 4.9 per cent to $39.33, its weakest level since last August. Nuix and Airtasker hit record lows. Xero dropped 0.2 per cent to $17.75, a level last seen in mid-2020, while Humm and Redbubble retreated to two-year lows.