The Australian technology-centric sub-index hit its lowest level since July 13, echoing a decline in Wall Street after investors' fears over higher and more prolonged interest rates by the Federal Reserve, coupled with easing shares of banks.

This impacted block trading, notably pushing ASX-listed shares of Block SQ (ASX:SQ2) down by 2%, while Xero (ASX:XRO) took a 0.3% hit.

WiseTech Global (ASX:WTC) notably bore the brunt, with their shares slumping 18.2% to A$70.83, thereby emerging as the largest loser on the tech index.

Nonetheless, the company’s stock remained up by 36.5% for this year, as of its last close.

Block SQ is a leading tech company, known for its advanced technical solutions and innovative approaches to problem-solving in the market.