The Australian dollar is lower as the major US stocks index suffer heavy falls, weighed down by tech stocks .

At 0635 AEDT on Wednesday, the local currency was worth 76.78 US cents, down from 77.30 US cents on Tuesday.

After enjoying some gains on Monday, Wall Street resumed its slide that started last week, on the back of nervousness over a possible trade war between China and the US.

AAP

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.