Thanks afternoon crew. End-of-day summary: A vicious sell-off on...

Thanks afternoon crew.

End-of-day summary:

A vicious sell-off on Wall Street and disappointing trading updates from Macquarie Group and Fortescue Metals helped drive the Australian share market to a two-week low.

The ASX 200 slumped 102.5 points or 1.29% to 7861. The fall was the index's fifth in six sessions since an all-time closing high of 8057.9 on July 17.

A tech-led retreat lowered all sectors following the worst night since 2022 for the S&P 500 and Nasdaq. An earnings miss drove Fortescue down 5.53% to a 10-month low. Macquarie Group dropped 3.41% as a slowdown in deal making dented investor returns on funds.

US stocks tanked overnight as investors examined trading updates from the first two of the Magnificent Seven group of market leaders to report this season, and opted against hanging around. The Nasdaq fell 3.64%. The S&P 500 lost 2.31%.