Why Bendigo and Adelaide Bank, BHP, IPH, and Woodside shares are dropping

Worried ASX share investor looking at laptop screen

Worried ASX share investor looking at laptop screenIn afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a sizeable decline. At the time of writing, the benchmark index is down 1.4% to 6,970.9 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Bendigo and Adelaide Bank Ltd (ASX: BEN)

The Bendigo and Adelaide Bank share price is down 3% to $8.83. This follows news that the banking crisis has spread to Europe with Credit Suisse the latest bank rumoured to be fighting for survival. And while the Swiss central bank has assured Credit Suisse that it will provide extra liquidity if needed, it isn’t painting a positive picture of the sector as a whole.

BHP Group Ltd (ASX: BHP)

The BHP share price is down 4% to $43.73. This follows a similarly large decline by the mining giant’s shares on the NYSE during overnight trade. This has been driven by concerns over the state of the global economy and what this might mean for commodity demand and pricing.


The IPH share price is down 12% to $7.37. Investors have been selling this intellectual property services company’s shares after it was hit by a cyber-attack. IPH advised that it detected unauthorised access to a portion of its IT environment on 13 March. An investigation into the incident could take “some time to complete.”

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down 5% to $31.20. This has been driven by another pullback by oil prices overnight on global economic growth concerns. WTI crude oil futures fell more than 5% to settle at US$67.61 per barrel, whereas Brent crude oil fell 4% to settle at US$74.36 per barrel. WTI crude oil futures were at their lowest level since December 2021.

The post Why Bendigo and Adelaide Bank, BHP, IPH, and Woodside shares are dropping appeared first on The Motley Fool Australia.

4 ways to prepare for the next bull market

It’s a scary market. But staying in cash when inflation is surging likely won’t do investors any good either.

And when some world-class companies have pulled back considerably from their recent highs… All while their fundamentals remain unchanged…

It begs the question…

Do you have these 4 stocks in your portfolio?

See The 4 Stocks
*Returns as of March 1 2023

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Bendigo And Adelaide Bank. The Motley Fool Australia has recommended IPH. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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