Xero (XRO.AX) Stock Slides 2.6% Amid Global Tariff Uncertainty
Xero Ltd (XRO.AX), the Australian cloud accounting software firm, tumbled 2.6% to A$100.89 as geopolitical tensions triggered a selloff in growth stocks. The shares briefly touched a 12-month low of A$98.23, mirroring weakness across the S&P/ASX 200's tech sector.
Investor sentiment soured after former U.S. President Donald TRUMP floated new tariffs targeting European nations—a move analysts say disproportionately impacts long-duration tech valuations. "Markets are repricing political risk premia," noted ANZ's Khoon Goh, highlighting how uncertainty compresses future earnings multiples.
The selloff coincides with Xero's Melio acquisition shares becoming freely tradable, raising concerns about potential supply overhang. Traders now watch whether the A$100 level holds as a psychological support threshold.
