Market Wrap / video killed the radio star

Tariff threats from Donald Trump continued to unsettle markets on Wednesday, along with a renewed tech selloff dragging the S&P/ASX 200 0.04% lower to 9,022.30 points.

Resurfacing AI concerns weighed heavily on technology stocks, sending the sector down 3.6%, following suit from the Nasdaq which saw Australian based Atlassian shed 9.44%. On the home front, heavyweight Xero dropped 4.6%, along with Wisetech down 3.7%. 

Gold was the beneficiary of broader market uncertainty overnight, rallying 2.5% and supporting local names Northern Star Resources and Evolution Mining, up 1.6% and 0.9% respectively. 

Among companies reporting, Woodside noted a record production of 198.8 million barrels of oil, sending the share price 2.4% higher on positive investor sentiment. 

While Southern Cross Media reported a 16.5% dip in profit since merging with Seven West Media, sliding the share price 9% into the red. 

Elsewhere in the media landscape, Nine Entertainment recorded a positive first half, boosted by the Winter Olympics and Married at First Sight engagement, seeing the share price gain 0.5% as net profit rose 30% to $95 million. 

Tonight, investors turn their attention aboard with the quarterly UK monetary policy report hearings set to be released, while in the US, Home Depot reports Q4 earnings.