The ASX 200 ended Friday sharply lower, dropping 1.3% or around 120 points to close near 8,925, marking a clear reversal after touching a 14-week high earlier in the week. Today’s sell-off affected most sectors, with only a handful managing to stay in positive territory, as investor confidence waned following earlier strength seen at midday.

WiseTech emerged as one of the session’s major losers, falling heavily on renewed concerns about the long-term impact of AI disruptions. Austal Limited and AMP also ranked among the worst performers, with the latter still reeling from an underwhelming profit result. Despite the overall negative tone, gold stocks managed some recovery on the back of firmer bullion prices, offering a glimmer of support.

After hours, market participants are digesting the sharp reversal and a fresh rotation in sector leadership, as tech stocks remain volatile. Looking to tomorrow, further clarity is expected from ongoing earnings releases and any international updates, especially regarding global economic sentiment and AI’s evolving impact across markets.