FEAR & GREED | Business News Afternoon Report | Tech stocks lead ASX higher
Feb 10, 2026
Markets climbed as technology shares led gains and the Aussie dollar hovered near 71 US cents. A new US AI tool rattled insurers and sent share prices lower. Protests around a high-profile visit led to multiple charges and calls for inquiries. A major airline launched a domestic price war as regulators eye stronger consumer protections. Unions pushed for remote work to become the default.
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Tech Rebound Drives Market Gains
- Technology stocks led the ASX 200 higher after last week's sell-off, with NextDC, Megaport and Zero rallying.
- Uranium miners also surged following heavy selling tied to AI-related nuclear demand concerns.
AI Tool Sparks Insurance Sell-Off
- A new US AI tool raised fears of disruption in the insurance sector, triggering heavy falls in insurer stocks.
- Steadfast fell 9.5%, IAG dropped over 6% and QBE lost more than 3% on the news.
Miners Up As CSL CEO Steps Down
- Big miners enjoyed gains with BHP and Rio Tinto higher amid the broader market uptick.
- CSL's CEO Dr. Paul McKenzie announced his retirement after seven years at the company.