Jan 27 (Reuters) - Australian shares dived into correction territory on Thursday, reversing early gains, as tech, healthcare and gold stocks slumped after the U.S. Federal Reserve signalled an interest rate hike was in the offing.

The benchmark S&P/ASX 200 index fell 2.9% by 0211 GMT to 6,763.4 - its lowest point since April 1, 2021. It is now more than 11% below its August 2021 high, entering correction territory, and pushing the market towards its worst month since March 2020.

Overnight, Wall Street also reversed its course to close lower after Fed Chairman Jerome Powell warned that inflation remained above the central bank's long-run goal and supply chain issues might be more persistent than previously thought.

Powell said the Fed was likely to start hiking rates in March, something markets had priced in alongside three more this year.

The comments confirm the Fed will start tightening policy, a move that has rattled equity markets this year after strong gains driven by massive liquidity pumped into the global system since the pandemic.

Tech stocks slid 4.9%, taking losses so far this year to around 20%. Both Xero and Seek plunged close to 7%.

Gold prices fell overnight after the Fed meeting as the allure of holding non-yielding bullion diminishes with more attractive yields on bonds. Gold stocks dived 6.2%, with top miner Newcrest falling 4.8%.

Biotech firm CSL, one of Australia's largest companies by market value, dropped 3%, dragging its export-focused healthcare peers sharply lower as well.

The country's Big Four banks were also down, led by Commonwealth Bank of Australia, which fell 1.7%.

New Zealand's benchmark S&P/NZX 50 index fell 1.3% to 12,026.1, a day after it snapped a five-day run of losses. (Reporting by Sameer Manekar and Nikhil Kurian Nainan in Bengaluru; Editing by Sherry Jacob-Phillips and Subhranshu Sahu)