The Newcrest Mining Ltd (ASX: NCM) share price is losing ground along with the ASX 200 on Wednesday.

At the time of writing, shares in Australia’s largest gold mining company are down 2.77% to $17.23.

In comparison, the S&P/ASX 200 Index (ASX: XJO) is in the red by 2.49% following a strong sell-off on Wall Street overnight.

What’s going on with the Newcrest share price?

The Newcrest share price is coming under selling pressure today as the price of gold fell to US$1,700 per ounce.

Just the day before, the yellow metal was fetching as high as US$1,730 as investors were confident that inflation hit its peak.

However, the release of the consumer price index report for August showed inflation rose by 0.1% on a monthly basis.

Economists were predicting that inflation for the month would actually fall by 0.1% as fuel prices declined by 5.9%.

Nonetheless, this sparked a sell-off as investors weighed up the likely move of a more aggressive rate hike by the US Federal Reserve.

The central bank’s chair, Jeremy Powell has previously said that he is determined to cool inflation despite bringing pain to consumers.

The market was expecting the Federal Reserve to raise interest rates by 0.75 percentage points at its 21-22 September meeting.

However, economists are fearing that this could be lifted by a full percentage point instead.

Consequently, this is having a negative impact on the price of gold as investors shift to other asset classes such as government bonds.

In addition, Newcrest shares are being weighed down by the S&P/ASX All Ordinaries Gold Index (ASX: XGD).

Currently, the benchmark index for Australian gold companies is one of the worst performers across the ASX, down 3.73%.

Newcrest share price summary

Adding to today’s losses, the Newcrest share price has fallen 30% in 2022.

With Newcrest shares losing their glitter for now, they remain around 4% off their multi-year low of $16.56 earlier this month.

Based on today’s price, Newcrest commands a market capitalisation of approximately $15.83 billion.

The post Why is the Newcrest share price losing its shine on Wednesday? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Monday
• Why is the Newcrest share price beating the ASX 200 on Friday?
• 5 things to watch on the ASX 200 on Friday
• Do ASX 200 gold shares pay regular dividends?
• Why are ASX 200 gold shares having such a hard time of it in 2022?

Motley Fool contributor Aaron Teboneras 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 no position in any of the stocks mentioned. 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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The Piedmont Lithium Inc (ASX: PLL) share price is part of an exclusive club of positive returners today. Shareholders would be rejoicing at the sight of their holdings showing insulated characteristics from the rest of the beaten-down market.

In afternoon trade, shares in the lithium hopeful are touting a 3.9% gain to 94.5 cents. Although, anything other than negative returns is a breath of fresh air right now. Even the broad S&P/ASX 200 Index (ASX: XJO) is 2.46% worse off than yesterday.

So, why is the Piedmont Lithium share price holding up in the face of this adversity?

Playing catch-up

A number of ASX-listed lithium shares have been going gangbusters over the past month. The optimism for the battery material has been reverberating in the ears of investors recently. Consequently, shares in many lithium companies have flown higher despite a still shaky environment.

One example of the positive projections was reported by fellow Motley Fool writer, Tristan Harrison. The article detailed how Barrenjoey — a major broker — is forecasting a potential rise of 86% in the lithium price over the next two years.

Furthermore, Pilbara Minerals has experienced a tremendous surge following its incredible full-year result. Since releasing its FY22 numbers, the Pilbara Minerals share price has exploded by 42%. Whereas, the Piedmont Lithium share price has been more subdued.

As shown above, shares in Piedmont Lithium have started to reignite. However, there is still a clear delineation between the performance of Pilbara Minerals and Piedmont.

Though, it is worth mentioning, that Piedmont is yet to draw revenue from its operations. Nevertheless, investors seem to be content with ignoring the market turbulence today to bid the Piedmont Lithium share price higher.

Piedmont Lithium share price in 2022

While unprofitable ASX tech shares have been ravaged by rising inflation and interest rates, some loss-making lithium companies appear to have dodged the damage.

So far this year, the Piedmont Lithium share price has returned an impressive 22%. Considering the benchmark index is down nearly 10%, Piedmont’s performance is commendable by any stretch of the imagination.

The company currently holds a market capitalisation of $1.66 billion.

The post The Piedmont Lithium share price is actually gaining today. What’s going on? appeared first on The Motley Fool Australia.

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More reading

• Why is the Piedmont Lithium share price popping 6% on Thursday?
• Why are ASX lithium stocks having such a stellar run today?
• Where does Tesla get its lithium and do any ASX shares benefit?
• Piedmont Lithium share price falls 5% after plans to build the largest US lithium plant unveiled
• Why is the Piedmont Lithium share price plunging 10% today?

Motley Fool contributor Mitchell Lawler 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 no position in any of the stocks mentioned. 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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The Atlas Arteria Group (ASX: ALX) share price is withstanding today’s sell off for a good reason. It’s still in a trading halt.

Indeed, the stock hasn’t gone anywhere today as the company undergoes a $3.098 billion capital raise to fund its acquisition of a majority stake in the Chicago Skyway.

The S&P/ASX 200 Index (ASX: XJO) toll road operator is selling shares for $6.30 apiece under a 1 for 1.95 entitlement offer.

The Atas Arteria share price last traded on Monday, closing at $7.81.

Let’s take a closer look at what’s happening with the approximately $7.5 billion company.

Atlas Arteria share price frozen amid $3b capital raise

The Atlas Arteria share price remains in the freezer on Wednesday as the company undergoes a massive capital raise to fund its $2.9 billion acquisition.

The near-$3.1 billion capital raise will see the company issuing 491.8 million new shares – representing 51.3% of its shares on issue. Newly issued shares won’t be eligible for the company’s upcoming 20-cent dividend.

The raise will be made up of an institutional entitlement offer that will be conducted today and tomorrow.

Following that, a retail entitlement offer will open on 21 September before closing on 6 October.

New dividend guidance

The company also reaffirmed and added to its dividend guidance. The company expects to pay out 40 cents per share in 2022 and the same amount in 2023. It says that’s “a sustainable level going forward”.

It expects future dividends to be supported by periodic capital releases from Skyway, given its “considerable debt capacity”.

The company anticipates it will receive at least US$230 million in capital releases from Skyway over the next two years. That represents approximately 23 cents per share.

On top of that, there’s the potential to regear every four to five years as coverage ratios increase while maintaining headroom to investment-grade credit metrics.

Atlas Arteria expects to behold proceeds from capital releases on its balance sheet before distributing them gradually to shareholders over time to smooth dividends.

The post Atlas Arteria share price remains on ice amid $3 billion cap raise appeared first on The Motley Fool Australia.

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More reading

• Atlas Arteria share price halted amid $2.9 billion acquisition
• Why is the Atlas Arteria share price hitting the headlines on Monday?
• Atlas Arteria share price drives higher on record dividend guidance
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Brooke Cooper 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 no position in any of the stocks mentioned. 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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The CSL Limited (ASX: CSL) share price is being dumped amid a broader market sell-off by investors.

At the time of writing, the biotherapeutics company’s shares are down 1.75% to $289.95.

For context, the S&P/ASX 200 Index (ASX: XJO) is down 2.38% today, marking its biggest drop since June 2022.

Here’s why CSL shares are in reverse today

Wall Street recorded heavy losses overnight following the release of the consumer price index report for August.

The data showed that inflation rose by 0.1% on a monthly basis when the market was expecting a 0.1% decrease.

Consequently, investors digested the negative news sending the Dow Jones 3.94% lower on the day.

This is because fears are growing that the United States Federal Reserve could lift interest rates by a full percentage point.

Previously, economists were expecting at worst that the central bank would hike the rate by 75 percentage points.

However, the market is now readjusting itself to factor in a likely aggressive move by the Fed to cool inflation.

As such, investors have hit the sell button on the CSL share price due to the broader market slump.

The S&P/ASX 200 Health Care Index (ASX: XHJ), of which CSL is a part, is currently down by 1.57%.

What do the brokers think?

Despite the gloomy turn of events, CSL shares are known for their high growth and defensive qualities.

As such, a number of brokers believe the share price is currently undervalued and lifted their price targets following the company’s full-year results.

As reported by ANZ Share Investing, Jefferies raised its price target by 0.8% to $320.50 per CSL share.

Furthermore, both Macquarie and Morgan Stanley improved their price target by 5.6% to $329.50, and 3.5% to $323 apiece.

Based on where CSL shares are now trading, this implies an upside of around 12%.

CSL share price snapshot

Since the start of 2022, the CSL share price has taken investors on a rollercoaster.

Its shares are flat when looking at the past nine months.

CSL is the third largest company on the ASX with a market capitalisation of roughly $142.3 billion.

The post The CSL share price dips as the ASX 200 dives on Wednesday appeared first on The Motley Fool Australia.

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More reading

• Can the CSL share price regain its 52-week high in 2022?
• Experts name 2 blue chip ASX shares to buy that Warren Buffett would love
• The CSL dividend just got updated. How much will you be getting?
• The CSL share price is still trading just 10% above its COVID-crash low. Is it a buy?
• Fundie reveals the 2 ASX shares he’d buy and hold for 4 years

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. 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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As most investors would be painfully aware by now, it’s been a dire day for ASX shares and the S&P/ASX 200 Index (ASX: XJO) this Wednesday. At the time of writing, the ASX 200 has lost a nasty 2.4% and is back to around 6,840 points. But it’s been even worse for the Block Inc (ASX: SQ2) share price.

Block, the company formerly known as Square, has been put through the wringer. Block shares are presently down by a horrible 4.46% at $104.12 each. It was even worse earlier in today’s session. This morning saw the fintech share descend as low as $101.72 a share, a drop of almost 7%.

So what’s going on here? Why have Block shares fallen by almost double the drop of the broader ASX 200?

Well, with no news out of the company today, we can probably put this sharp drop down to the inflation fears that are so dramatically spooking investors today. As we’ve looked at extensively, US inflation figures came out last night, and what they revealed was not pretty. 

American inflation is running at a hot 8.3%, a figure far higher than what most commentators expected. US shares, and now ASX shares, have been smashed on this news, as fears grow that the US Federal Reserve will be forced to keep up its frenetic interest rate hikes to tame this inflation.

So this explains why almost all ASX 200 shares are deep in the red today. But why is Block getting such an enthusiastic drubbing?

Why is the Block share price getting a 5% smashing today?

Well, as my Fool colleague Catherine skilfully explained earlier today, ASX tech shares are some of the most sensitive to interest rates. Many of them are valued on what their future earnings may be, rather than what they are bringing in today.

Under some valuation models, higher rates make the value of future earnings less attractive. Thus, these are the companies that tend to get a more severe ‘re-rating’ when interest rate expectations change.

That would explain why we are seeing an oversized fall in Block shares today. This company is arguably very much valued for its future growth, given its current price-to-earnings (P/E) ratio of 312.5.

But it’s not just Block feeling the pain. Many other ASX tech shares, including Xero Limited (ASX: XRO), Brainchip Holdings Ltd (ASX: BRN), and Altium Limited (ASX: ALU) are also seeing drops of far more than the broader market.

No doubt investors will be hoping for a better time over the rest of the week.

At the current Block share price, this ASX 200 tech share has a market capitalisation of $60.87 billion.

The post Smashed! Why is the Block share price down 4% today? appeared first on The Motley Fool Australia.

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More reading

• Why are ASX 200 tech shares being hit the hardest on Wednesday?
• Why are ASX 200 shares tumbling like dominos on Wednesday?
• Here are the top 10 ASX 200 shares today
• Why are ASX 200 tech shares having such a cracking start to the week?
• Here are the 10 most shorted ASX shares

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Block, Inc., and Xero. The Motley Fool Australia has positions in and has recommended Block, Inc. and Xero. 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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The S&P/ASX All Ordinaries Index (ASX: XAO) is deep in the red today after a hot US inflation report sent Wall Street into a tailspin overnight.

At the time of writing, the All Ords index has slipped 2.6% to 7,065 points. The S&P/ASX 200 Index (ASX: XJO) is mirroring this fall, also sliding 2.6% to 6,825 points.

But amongst the sea of red, some ASX All Ords shares are shining brightly. Let’s take a look.

Peter Warren Automotive Holdings Ltd (ASX: PWR)

The Peter Warren share price is racing higher today after the car dealership company revealed it has a new major shareholder.

At the time of writing, Peter Warren shares have zoomed 13.9% higher to $2.87.

According to an initial substantial holder notice, SMA Motors splashed $50 million yesterday to pick up a 9% stake in PWR.

In a separate notice, the seller is revealed to be Quadrant Private Equity, offloading 15.7 million PWR shares off-market to SMA at an average price of roughly $3.19 per share. 

This represents a sizeable 26% premium to PWR’s closing price yesterday of $2.52.

As my Fool colleague James reported this morning, SMA Motors is the name behind Suttons Motors, one of Sydney’s largest car dealership groups.

Clover Corporation Limited (ASX: CLV)

Food technology business Clover is also defying the market sell-off today, surging 11.1% at the time of writing to $1.10.

The ASX All Ords share handed in its FY22 results this morning, reporting double-digit sales and profit growth.

Clover delivered net revenue of $70.7 million, up 17% from the prior year and at the top end of guidance.

In the second half of the year, sales rebounded across all of Clover’s regions as key infant formula manufacturer order volumes lifted and international borders opened.

However, Clover hasn’t been spared from rising inflation. It experienced pressure on milk proteins, freight costs, and other ingredients throughout the year, which impacted margins.

On the bottom line, the company reported a net profit after tax (NPAT) of $7.1 million, growing 19% from FY21.

Clover also doubled its final dividend to 1 cent per share, fully franked. This puts Clover shares on a trailing dividend yield of 1.4%.

Avita Medical Inc (ASX: AVH) 

Last but not least, regenerative medicine company Avita is staging a comeback today. 

The Avita share price was crunched when the company released its FY22 results in mid-August.

But its fortunes have turned today as Avita shares are currently printing a 3.9% gain to sit at $2.

The ASX All Ords share hasn’t come out with any news today. But yesterday, it announced positive topline trial results.

These results relate to a pivotal, randomised, controlled trial evaluating the safety and effectiveness of Avita’s Recell System for the repigmentation of stable vitiligo lesions.

Results showed that 56% of Recell treatments led to repigmentation of more than 50% of the treated area. The control group managed only 12% using the typical first-line treatment for vitiligo.

Meanwhile, 36% of Recell treatments resulted in repigmentation of at least 80% of the treated area compared to 0% for the control treatment.

The post 3 ASX All Ordinaries shares defying today’s rout to surge higher appeared first on The Motley Fool Australia.

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• In a sea of red, guess which ASX All Ords share is booming 12% today
• 5 ASX All Ords shares trading ex-dividend on Thursday
• 6 ASX shares Morgans would buy right now
• 3 ASX All Ords shares that saw major price action on FY22 results

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Avita Medical Limited and Clover Corporation Limited. The Motley Fool Australia has recommended Avita Medical Limited. 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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The AMP Ltd (ASX: AMP) share price is down 76% over the past five years and a staggering 91% since the company’s shares first traded in January 1999.

By comparison, the S&P/ASX 200 Financials Index (ASX: XFJ) has dropped 4.84% over the past five years, with AMP’s financial sector peers pulling well ahead of it.

No doubt, it’s been a hard road for the financial services provider but now an expert has pointed out some major flaws in AMP’s fundamentals.

What did the expert say?

Shaw and Partners’ senior investment advisor Jed Richards has slapped AMP with a sell rating.

Richards is pessimistic about the company’s long-term growth prospects, saying:

The company has been a poor performer for many years. In our view, its first-half 2022 results showed weak earnings growth in its bank and wealth divisions. While recent asset sales may provide a payout boost to shareholders in the short term, they remove a key growth component from the company’s business strategy. We believe AMP will require significant re-investment to regain lost scale.

In AMP’s most recent half-year results, group profits dived to $117 million, down 24.5% from the prior corresponding period.

Let’s check what else has been impacting the company recently.

What else happened?

At the beginning of September, AMP announced it would buy back 32 million of its own shares for a total value of $350 million. This is part of a planned $1.1 billion capital redistribution to shareholders, announced to the market in August.

Also this month, AMP missed out on a huge payday from losing control of its AMP Capital Retail Trust (ACRT).

The fund manages $2.7 billion of assets. It means the total potential earn-out from the sale of Collimate Capital’s real estate and infrastructure business has fallen to just $20 million.

The sale originally came with an earn-out potential of $300 million but that dropped to $75 million when AMP previously lost control of its $7.7 billion AMP Capital Wholesale Office Fund (AWOF) in July.

Meantime in August, the company enjoyed a rally in its share price amid rumours AMP proposed a final offer to buy the Westpac Banking Corp (ASX: WBC) wealth management business.

AMP share price snapshot

The AMP share price is currently $1.17, down 2.09% so far today, while the S&P/ASX 200 Financials Index (ASX: XFJ) is 2.81% lower in early afternoon trade.

Despite the gloom surrounding the company today, AMP shares are up 17% year to date while the S&P/ASX 200 Index (ASX: XJO) has lost almost 10% over the same period.

AMP’s current market capitalisation is around $3.8 billion.

The post Are AMP shares worth keeping? appeared first on The Motley Fool Australia.

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• Here are the 3 most heavily traded ASX 200 shares on Monday
• When it comes to AMP shares, is it time for investors to give up the ghost?
• Savings or dividends? What these 3 ASX bank shares are offering for income
• Here are the top 10 ASX 200 shares today
• Why is AMP buying back shares?

Motley Fool contributor Matthew Farley 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 recommended Westpac Banking Corporation. 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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The Computershare Ltd (ASX: CPU) share price has managed to avoid the wreckage across the ASX so far today.

At the time of writing, the Computershare share price is up slightly at $24.51 per share.

The ASX tech share provides investor services, plan services, communication services, business services, shareholder relationship management services and technology services.

Computershare remains stoic in the face of tech sell-off

Computershare is holding its ground on a tumultuous day on the ASX as the S&P/ASX 200 Index (ASX: XJO) is down 2.45%.

The tech sector is suffering second-worst on the ASX, plummeting 3.2% at the time of writing. High growth and unprofitable companies continue to bear most of the brunt.

The major reason for today’s market turmoil is the report of higher-than-expected inflation in the United States. Consumer prices in the US, released overnight Australian time, rose by 0.1% in August.

The core consumer price index, which does not account for volatile food and energy prices, increased more than expected, rising to 6.3% over the year to August. This is up from 5.9% in July.

The current state of Computershare

Computershare’s recent annual results, covered by my colleague Zach Bristow, may point to some potential reasons for its resilience.

Computershare recorded positive results across nearly every aspect of its business. Revenue went up by 12% in FY22 and net profit after tax (NPAT) rose 20.5% compared to FY21.

The company also provided a forecast of earnings per share (EPS) growth of 55% for FY23, despite ongoing inflationary pressures as witnessed today.

Whilst Computershare did perform quite well in FY22, investors should note there is a significant amount of long-term debt on its balance sheet. Long-term borrowings was $1.84 billion as of FY22.

Computershare share price snapshot

In the last year, the Computershare price has been immune from the tech sell-off, rising by 48% and jumping 11% in the past six months.

The S&P/ASX 200 Index (ASX: XJO) is down 8% in the past year and dropped by 5% in the last six months.

Computershare has a market capitalisation of around $14.75 billion.

The price-to-earnings multiple is hovering around 44x.

The post Guess which ASX 200 share is holding firm amid today’s carnage appeared first on The Motley Fool Australia.

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• 3 ASX 200 directors who have been selling shares in their companies this week
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• I’d still buy 2 ASX shares already up 50% in a year: expert

Motley Fool contributor Raymond Jang 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 no position in any of the stocks mentioned. 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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The Anson Resources Ltd (ASX: ASN) share price surged to a new record high on the ASX today on the back of assay results from its Paradox Lithium Project.

The results from a now-completed drilling program have confirmed the potential to expand the project’s mineral resources.

The Anson Resources share price is lifting 8.33% right now to trade at 45.5 cents.

Though, that’s down from its earlier high of 46.5 cents – marking a new all-time high.

That’s despite the broader market plummeting. The All Ordinaries Index (ASX: XAO) is down 2.78% at the time of writing following Wall Street’s disastrous overnight trade.

Let’s take a closer look at why the ASX mineral explorer is floating above a sea of red on Wednesday.

Anson Resources stock hits all-time ASX high on lithium find

The Anson Resources share price is rocketing higher on Wednesday on news of its Paradox Project’s Cane Creek 32-1 well.

Initial assays from now-completed drilling at the well found one of its clastic zones contains 108 parts per million of lithium. That’s 40% more than the average grade of four zones included in the project’s recently upgraded JORC resource.

Exploration drilling at the well’s additional clastic zones has found that they contain a supersaturated brine.

Results from further clastic zones and Mississippian units are still pending.

However, the company noted that a number of the additional clastic zones are much thicker than those previously sampled. Therefore, they may provide a large increase in a further planned mineral resource upgrade.

The Anson Resources share price rocketed nearly 43% late last month when it announced the project’s mineral resource had been more than quadrupled.

It’s currently trading a whopping 184% higher than it was this time last month.

Anson Resources share price snapshot

Looking further back, the Anson Resources share price has gained 225% since the start of 2022.

It’s also currently 355% higher than it was this time last year.

For comparison, the All Ordinaries Index has slipped 11% year to date and 7% over the last 12 months.

The post Anson Resources share price surges to ASX all-time high on lithium news appeared first on The Motley Fool Australia.

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More reading

• Vulcan Energy share price is one of the worst ASX lithium performers so far this year. Why?
• 4 ASX lithium shares that have rocketed more than 100% in 2022
• 4 ASX lithium shares hitting all-time highs on Thursday
• 3 ASX mining shares soaring more than 20% today
• ‘Outstanding economics’: Anson Resources share price rockets 35% on lithium news

Motley Fool contributor Brooke Cooper 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 no position in any of the stocks mentioned. 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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It’s been a horror day for ASX shares and the S&P/ASX 200 Index (ASX: XJO), no way around it. At the time of writing, the ASX 200 has lost a nasty 2.67% and is back to just over 6,820 points. But let’s talk about the National Australia Bank Ltd (ASX: NAB) share price.

NAB shares have had a shocker today. While the ASX 200 has lost almost 2.7%, NAB shares are down by a far more painful 3.52% at present to $29.22 a share.

So why is the NAB share price tanking by so much more than the broader market?

Well, it’s got nothing to do with any news or announcements out of the bank itself, seeing as there are none.

So, that leaves us with the next-most likely explanation: NAB is getting caught up in the general malaise of the markets.

Why is the NAB share price down 3% today?

Let’s backtrack a little. Today has been so brutal due to the inflation data that we saw out of the United States overnight (our time). As we looked at earlier, there are signs that US inflation is raging out of control. It’s currently running at 8.3%, far higher than what most commentators were expecting.

As such, there are now fears that the US Federal Reserve will have to amp up its cycle of raising interest rates even more enthusiastically. Higher rates usually bode ill for share prices.

Following this data, the US markets tanked overnight. The S&P 500 Index (SP: .INX) fell a shocking 4.32%. So it’s perhaps no wonder that the ASX 200 is following suit today.

But why is the NAB share price getting such a hammering? Well, it’s probably due to its very nature. ASX bank shares are typically viewed as cyclical. As such, they often get hit harder than the broader market when there are macroeconomic fears at play.

This hypothesis is supported by what we see in other ASX banks today.

It’s not just NAB that is enduring outsized selling pressure today. Commonwealth Bank of Australia (ASX: CBA) shares have fallen 3.5% as well. The Westpac Banking Corp (ASX: WBC) and Australia and New Zealand Banking Group Ltd (ASX: NZ) share prices are failing a little better. Both are ‘only’ down by around 2.5%.

So not a great day for NAB shares, or most other ASX 200 shares today.

At the current NAB share price, this ASX 200 bank share has a market capitalisation of $92.34 billion, with a dividend yield of 4.79%.

The post Why has the NAB share price tanked 3% today? appeared first on The Motley Fool Australia.

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More reading

• Macquarie shares bear the brunt of bank sell-off amid inflation bomb
• Why is NAB investing in this Aussie payments start-up?
• Why did Macquarie just upgrade its target for the ANZ share price?
• Billions in liabilities could be set to hit CBA and other ASX banks: expert
• ‘It’s a bit like a home renovation’: What does the future look like for ANZ shares?

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank Limited. 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 recommended Westpac Banking Corporation. 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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