It’s been a fairly bleak day for ASX shares so far this Wednesday. At the time of writing, the All Ordinaries Index (ASX: XAO) has slipped by 0.44% to back under 6,800 points. But it’s a very different story when it comes to the Sezzle Inc (ASX: SZL) share price.

Sezzle shares are presently having a blast. Literally. This ASX buy now, pay later (BNPL) share has rocketed an astonishing 32% so far today to 52 cents a share. That comes after the Sezzle share price closed at 39 cents yesterday and rose as high as 58 cents a share this morning (up almost 49% at the time).

It was only last week that Sezzle shares hit a new all-time low of just 25 cents a share. That means Sezzle has now climbed by 132% in only the past five trading days. But we still remain a long way from the ~$2.40 levels we saw soon after Sezzle’s initial public offering (IPO) back in 2019.

The rally of the past week comes after one of the worst months in Sezzle’s history as an ASX share. As my Fool colleague Bronwyn covered on Friday, Sezzle was one of the worst-performing shares on the entire All Ords index over June, losing half of its value in just a month.

Why was the Sezzle share price at a 52-week low?

As we covered at the time, it seems that concerns over inflation, rising interest rates and a possible recession were what was causing consternation among investors over Sezzle shares last month. There are also concerns that the BNPL sector is headed for more regulation in the future.

On the first point, last month saw Sezzle telling investors that it was “focusing on driving its credit losses below the 2% threshold of total transaction volumes”. Sezzle also flagged that it is responding to higher inflation by increasing both merchant and consumer fees.

On the second, it was revealed late last month that Financial Services Minister Stephen Jones is actively looking to introduce further regulations to the BNPL sector within a year, calling BNPL services “clearly” a form of credit.

So it was a combination of these factors that probably led to Sezzle’s new 52-week low last week. But it’s unclear why Sezzle is shooting so much higher today (indeed over the past few days). Perhaps some value investors have finally decided Sezzle shares got too cheap to ignore at 25 cents each. Whatever the cause, it’s certainly been a good week for the Sezzle share price.

The post Up 49% today, Sezzle share price says see you later to all-time low appeared first on The Motley Fool Australia.

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More reading

• 5 worst ASX All Ordinaries shares in June
• June was a terrible month for ASX BNPL shares. Here’s why
• Could ASX BNPL shares be set for imminent regulation as spending swells to $12 billion?
• Sezzle share price flirts with new all-time lows. What is this BNPL company facing?
• Sezzle share price fizzles again, now down 55% in a month

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 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 Dusk Group Ltd (ASX: DSK) share price continued to dim throughout the month of June.

At market close on 31 May, the specialty retailer’s shares last traded at $1.99 a pop. Fast forward to the end of June, its shares closed at $1.67, representing a decline of 16% for the month.

After falling into bargain territory, Dusk shares are staging a strong rebound today to zip 6.99% higher, back to $1.99 apiece.

What blew the wind out of Dusk shares?

Investors dragged down the Dusk share price amid negative sentiment across the ASX in June.

After inflation levels spiked to 5.1% during the March quarter, the Reserve Bank of Australia (RBA) decided to intervene.

The central bank tightened up its monetary policy by raising interest rates in a bid to cool down the rampant inflation.

The official cash rate rose by 0.5% last month and another 0.5% yesterday – which currently puts it at 1.35%.

Around the country, prices on consumer goods were noted to have surged at the fastest annual pace over the last 20 years.

What this means is that consumers are less likely to spend on discretionary items while interest rates are picking up. The cost of debt, such as credit cards as well as personal loans, requires extra payments which, in turn, affects consumer spending habits.

Nonetheless, a gloomy economic outlook is also weighing down the S&P/ASX 200 Consumer Discretionary (ASX: XDJ) sector. The index fell 7% over the course of June.

While Dusk hasn’t made any announcements recently, investors will be keeping a close eye on the upcoming monthly household spending report. This provides a clearer indication of household spending as well as the health of the country’s economic growth.

Dusk share price snapshot

It has been a disappointing 12 months for the Dusk share price, falling by almost 50% for the period.

When looking year to date, the company’s shares are down around 38%.

Based on today’s price, Dusk commands a market capitalisation of roughly $115.82 million.

The post Why did the Dusk share price flame out 16% in June? appeared first on The Motley Fool Australia.

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More reading

• Sniffing out an opportunity: Why I think the Dusk share price could be a buy
• Do Dusk shares really have a 12% dividend yield right now?

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 recommended Dusk Group 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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One area of the market that is a sea of red on Wednesday is the energy sector. At the time of writing, the S&P/ASX 200 Energy Index is down a sizeable 5.5%.

This follows a significant pullback in oil prices overnight, which is weighing heavily on ASX energy shares.

According to Bloomberg, the WTI crude oil price fell more than 10% before eventually closing the session 8.2% lower at US$99.50 per barrel. The Brent crude oil price ended the session 9.45% lower at US$102.77 a barrel.

Traders were selling oil in a panic amid concerns that a global recession could lessen demand for energy products.

Which ASX oil shares are falling today?

You will be hard-pressed to find an ASX oil share performing positively on Wednesday.

Here’s a summary of how some shares are performing in the energy sector:

• The Beach Energy Ltd (ASX: BPT) share price is down 7%
• The Santos Ltd (ASX: STO) share price is down 5%
• The Woodside Energy Group Ltd (ASX: WDS) share price is down 7%

What’s next for oil prices?

Where oil prices, and therefore ASX oil shares, go next will depend ultimately on what happens with the global economy.

For example, a note out of Citi warns that yesterday’s decline could be a sign of things to come if the global economy falls into a recession. Its analysts are forecasting a decline into the US$60s a barrel if a recession occurs.

Citi said: “In a recession scenario with rising unemployment, household and corporate bankruptcies, commodities would chase a falling cost curve as costs deflate and margins turn negative to drive supply curtailments.”

The post How is the oil price plunge impacting ASX 200 oil shares today? appeared first on The Motley Fool Australia.

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More reading

• Leaking oil price sends Santos shares into the red
• What’s in store for the Woodside Energy share price in July?
• ASX 200 midday update: BHP and Fortescue sink, EML and ZIP jump
• Why did the Beach Energy share price outperform the ASX 200 last month?
• Santos and Woodside on watch after oil prices crash 10%

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 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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ASX lithium stocks such as Core Lithium Ltd (ASX: CXO) and Allkem Ltd (ASX: AKE) are outperforming the major ASX resources shares today following multiple commodity price falls overnight.

The Core Lithium share price is down 2.11% to 93 cents. The Allkem share price is down 4.3% to $9.57.

In comparison, the Rio Tinto Limited (ASX: RIO) share price is crumbling 5.83%, Fortescue Metals Group Limited (ASX: FMG) shares have dipped 4.97%, and BHP Group Ltd (ASX: BHP) shares are down 4.8%.

The Newcrest Mining Ltd (ASX: NCM) share price is falling 6.1%, and South32 Ltd (ASX: S32) shares are down 7.79%.

Looking more broadly, the S&P/ASX 200 Resources Index (ASX: XJR) is down 5.02% at the time of writing.

All of these price movements are likely tied to a price lashing for various commodities overnight.

Commodities dip but ASX lithium stocks hold up best

According to Trading Economics commodities data, the iron ore price rose by 0.88% overnight but is down 8.03% over the past week. The iron ore (62% Fe) price slipped 0.73% overnight and is down by 13.26% over the week.

The steel price finished flat overnight and is down 4.87% over the week. The hot-rolled coil (HRC) steel price is down 0.97% overnight and 18.21% over the past week.

South32 has significant exposure to alumina and aluminium, which might explain why its share price is falling most among this particular bunch of ASX resource shares. The aluminium price slipped 3.57% overnight and is down 4.62% for the week.

Commodities that are currently trading include copper, which is down 0.28% at the time of writing. The copper price has fallen 8.75% over the week. The gold price is up slightly by 0.4% but down 2.6% for the week. The silver price is up 0.27% today but down 6.96% over the week.

Meantime, the lithium carbonate price finished the session flat overnight. And over the past week, it’s down just a little — by 0.42%. (Fun fact: It’s up a whopping 434% year over year.)

The relative stability of the lithium price is likely supporting ASX lithium stocks today.

The post ASX lithium stocks avoid share price shock amid commodities lashing appeared first on The Motley Fool Australia.

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More reading

• Why are ASX 200 gold shares falling today?
• ASX 200 midday update: BHP and Fortescue sink, EML and ZIP jump
• South32 share price heads 8% south on high volumes, but why?
• Why is the Fortescue share price slipping 5% today?
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor Bronwyn Allen has positions in Allkem Limited, BHP Billiton Limited, and Fortescue Metals Group 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 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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At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) has been fighting hard to stay in positive territory but is falling short. The benchmark index is currently down 0.25% to 6,612.4 points.

Here’s what is happening on the ASX 200 index on Wednesday:

Miners weigh on the ASX 200

Concerns that there could be a global recession put pressure on commodity prices overnight. This has led to mining giants such as BHP Group Ltd (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), and South32 Ltd (ASX: S32) tumbling notably lower today. So much so, the S&P/ASX 200 Resources index is down 4.4% at the time of writing.

EML Payments jumps

The EML Payments Ltd (ASX: EML) share price is racing higher today. This follows news that the payments company has signed an agreement with the Spain’s national post office network, Correos. EML will support the issuing of a government contract known as the Bono Cultural Joven 2022 (Youth Cultural Bonus) tender. This is supporting the cultural sector which was adversely impacted during the pandemic.

Energy shares tumble

Energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) have sunk deep into the red today. This follows a sharp pullback in oil prices amid concerns that a recession could lessen demand for energy products. According to Bloomberg, the WTI crude oil price fell more than 10% before eventually closing the session 8.2% lower at US$99.50 per barrel. Brent crude oil ended the session 9.45% lower at US$102.77 a barrel.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has inexplicably been the Zip Co Ltd (ASX: ZIP) share price with a 17% gain on no news. However, it is worth noting that the tech sector is performing very positively today. The worst performer has been the Regis Resources Limited (ASX: RRL) share price with a 7% decline. This follows broad weakness in the gold sector and the release of a bearish broker note out of Citi.

The post ASX 200 midday update: BHP and Fortescue sink, EML and ZIP jump appeared first on The Motley Fool Australia.

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More reading

• South32 share price heads 8% south on high volumes, but why?
• Why is the Fortescue share price slipping 5% today?
• Zip share price reignites with a 19% rally amid tech bounce
• Why did the Beach Energy share price outperform the ASX 200 last month?
• Santos and Woodside on watch after oil prices crash 10%

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 positions in and has recommended EML Payments and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended EML Payments. 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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June wasn’t the best of months for the Bitcoin (CRYPTO: BTC) price.

At all.

Depending on your time zone, the world’s biggest token by market cap kicked off June trading for US$31,693. By the time the calendar rolled over into July, the token was worth $18,880, down 41% for the month.

US$31,693 also happens to be the high for the Bitcoin price in June, with it trading as low as US$17,700, according to data from CoinMarketCap.

While Bitcoin has recovered slightly in July, currently fetching US$20,273, it remains down more than 70% from its 10 November all-time highs.

So, what went wrong in June?

Inflation and rising interest rates

The biggest headwind facing the entire cryptocurrency market has been hot running inflation in the developed world and the accompanying interest rate hikes being rolled out to tame that.

An outsized 0.75% interest rate hike by the US Federal Reserve and hawkish guidance on more rate rises ahead saw most risk assets sell-off in June. The tech-heavy NASDAQ, as a handy benchmark, closed the month down 9%.

Of course, that’s far less than the Bitcoin price tumbled.

Why did the Bitcoin price crash 41% in June?

Just as the token has the potential to deliver outsized gains when markets are running strong, it also has proven itself able to deliver painfully outsized losses when the selling fever hits.

Bitcoin looks to have come under extra selling pressure after falling below some key levels.

Nothing technical, mind you.

But as the Bitcoin price slipped below US$30,000, a growing number of holders found themselves in the red. In fact, by mid-June, anyone who’d bought the crypto since early December 2020 was sitting on a loss, with analysts estimating half of all investors were underwater.

This looks to be pressuring a number of institutional investors to lighten their crypto holdings.

According to Wilfred Daye, chief executive officer of Securitize Capital:

There may be capitulation because larger institutional players, guys who got in during the current cycle, they’re at risk of selling their assets and liquidating their assets. This particular cycle that started late 2020, you had a lot of institutional folks getting in at a higher price, so I think it’s more institutional capitulation.

Then there’s the crypto miners.

Securitize Capital estimates it costs some crypto miners more than US$20,000 for every Bitcoin they mine. And as the Bitcoin price kept sliding, more miners were selling their tokens to pay their bills, adding to the supply.

According to JP Morgan:

Offloading of Bitcoins by miners, in order to meet ongoing costs or to de-lever, could continue into Q3 if their profitability fails to improve… [Selling] has likely already weighed on [Bitcoin] prices in May and June, though there is a risk that this pressure could continue.

The post Why did the Bitcoin price crash 41% in June? appeared first on The Motley Fool Australia.

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More reading

• Why Bitcoin stocks crashed (again) last month
• How did the price of crypto assets perform in June?
• Here’s what will impact the Bitcoin price in July: expert
• What did the SEC just say about Bitcoin?
• How crypto miners are squeezing the Bitcoin price

Motley Fool contributor Bernd Struben 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 Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Shares of Google parent Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) took a 24.8% header during the first half of 2022, according to data from S&P Global Market Intelligence.

When looking back at the chart to all-time highs of autumn 2021, Alphabet is off 28% from its peak. By comparison, the S&P 500 and Nasdaq Composite indexes are off 21% and 31%, respectively, from their all-time highs.  

So what

A confluence of events conspired to drag down the mighty Alphabet’s stock — and few of those events had much to do with business results. What started as a healthy market pullback early in 2022 widened into all-out carnage as inflation soared past 8% year over year, driven by higher energy, food, auto, and home prices.

In response, the Federal Reserve has started aggressively raising interest rates in an attempt to cool off the economy which, in turn, would cool off prices. As a reminder, higher interest rates lower the present value of risk assets like stocks.  

Thus far, the Fed’s plan has done little to tame inflation, but it has pushed the economy to what some economists think is the brink of recession. Add in Russia’s war on Ukraine, and it all creates a very gloomy outlook for the global economy.

About Alphabet: As just mentioned, its business seems to be doing just fine. In fact, in the first quarter of 2022, revenue and operating income increased 23% and 22%, respectively.

But since the bulk of Alphabet’s revenue comes from advertising, the possibility of a recession has also weighed on shareholder sentiment. Ad spending tends to take a hit when the economy hits the skids, so there’s worry that Google’s growth is in for a severe cool-off.  

Now what

At this juncture, investors need to weigh Alphabet’s longer-term prospects against the current valuation. Digital ads are still a steadily growing industry gobbling up traditional marketing, and the tech giant has lots of other irons in the fire, like its Google Cloud segment, that give it exposure to other secular growth trends. 

The stock now trades for 22 times trailing 12-month free cash flow and 20 times expected current-year earnings. It also has some of the deepest pockets around with cash and short-term investments of $121 billion net of debt.

If Alphabet can sustain its growth momentum over the long term, now might be a fantastic buying opportunity — if you don’t mind some ongoing elevated volatility this year and can sit on your hands for at least a few years.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Alphabet stock crashed 25% in the first half of 2022 appeared first on The Motley Fool Australia.

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More reading

• 4 potential winners from Netflix’s advertising plans
• Better stock-split buy: Alphabet or Tesla?
• 3 top stock splits to watch in 2022
• Alphabet’s stock split: The real reason it matters
• 4 reasons to buy Alphabet before its stock split

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Nicholas Rossolillo and his clients have positions in Alphabet (C shares). The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet (A shares) and Alphabet (C shares). The Motley Fool Australia has recommended Alphabet (A shares) and Alphabet (C shares). The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Zip Co Ltd (ASX: ZIP) share price is back on the horse on Wednesday. Its recovery comes as the S&P/ASX 200 Information Technology Index (ASX: XIJ) leads the market, gaining 3.57%.

At the time of writing, the Zip share price is 60.5 cents, 18.63% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently down 0.25%.

Let’s take a look at what might be going on with the ASX 200 buy now, pay later (BNPL) share and its tech peers today.

What’s driving the Zip share price higher today?

ASX 200 tech stocks are launching higher on Wednesday and the Zip share price is leading the way.

That’s despite the Reserve Bank of Australia hiking interest rates 50 basis points to 1.35% yesterday. The move is likely bad news for consumer sentiment and could have been expected to weigh on the BNPL giant’s stock today.

While Zip isn’t technically a tech share – it’s at home on the S&P/ASX 200 Financials Index (ASX: XFJ) – the company’s stock tends to trade in line with its technology-focused peers.

The tech sector’s rally might be a reaction to a strong session on the tech-heavy NASDAQ index on US markets overnight.

The Nasdaq Composite lifted 1.75% in Tuesday’s session overseas following a public holiday on Monday.

Its surge also comes as bond yields fall. US 10-year yields fell by around 2.8% overnight.

LPL Financial’s Quincy Krosby has reportedly linked falling bond yields with potential gains among tech stocks. Krosby was quoted by News.com.au as saying:

The concern of a recession is deepening … You look for growth, where you can find it. Many of those large tech names that have been beaten up by the market become attractive again, particularly when the bond yields are lower.

Today’s gain leaves the Zip share price 86% lower than it was at the start of 2022. The ASX 200 tech sector has also slumped 34% year-to-date.

The post Zip share price reignites with a 19% rally amid tech bounce appeared first on The Motley Fool Australia.

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• Up and back down: Why is the Zip share price volatile today?
• The Zip share price lost 94% of its value in FY22
• What on earth happened to ASX 200 tech shares in June?
• Why Austal, Mesoblast, Regis Resources, and Zip shares are charging higher
• Why is the Zip share price jumping 11% 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 positions in and has recommended ZIPCOLTD FPO. 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 South32 Ltd (ASX: S32) share price has been among the worst performers on the ASX 200 on Wednesday.

In morning trade, the mining giant’s shares were down as much as 8% to $3.55.

The South32 share price has since recovered a touch but remains down 5.5% at the time of writing.

Why is the South32 share price sinking?

Investors have been selling down the South32 share price on Wednesday following a pullback in commodity prices.

Commodity prices tumbled lower overnight after recession fears intensified, sparking concerns that demand for many metals and energy products could weaken.

Among the worst performing metals were aluminium and copper which fell 3.2% to US$1.08 per pound and 4.2% to US$3.44 per pound, respectively, during overnight trade. Copper’s decline took it to a 19-month low.

This doesn’t bode well for South32, which generates significant earnings from these metals.

For example, Goldman Sachs is forecasting earnings before interest, depreciation, and amortisation (EBITDA) contributions of US$2,025 million from South32’s aluminium operations and US$678 million from its copper operations in FY 2023.

This is the equivalent of 38.5% and 12.9% or the group EBITDA of US$5,260 million Goldman is expecting for the year.

And given that Goldman is expecting an average aluminium price of US$1.70 per pound and an average copper price of US$5.53 per pound, these estimates could prove to be wide of the market based on current prices.

In light of this, it isn’t overly surprising to see the South32 share price fall today.

The post South32 share price heads 8% south on high volumes, but why? appeared first on The Motley Fool Australia.

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• How did the South32 share price perform in FY22?
• Experts name these ASX 200 dividend shares with big yields as buys
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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 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 Fortescue Metals Group Limited (ASX: FMG) share price is coming under selling pressure during morning trade.

This is despite the iron ore mining outfit not releasing any price-sensitive announcements to the ASX.

At the time of writing, Fortescue shares are fetching at $16.62 apiece, down 4.04%. Earlier in the session, the company’s share price hit a low of $16.39, a 5.36% drop on yesterday’s close.

For context, the S&P/ASX 200 Index (ASX: XJO) is treading also treading lower, down 0.14% so far today.

Let’s take a look at what’s dragging down the miner’s shares today.

Iron ore prices continue to sink

After stabilising for the last four weeks around the US$130 per metric tonne mark, iron ore prices have resumed their descent.

According to Trading Economics, the steel-making ingredient is trading at US$113 per tonne as of last night. This represents a fall of 21% compared to this time last month.

Mining.com reported that there’s currently weak demand for iron ore as Chinese steel mills put their blast furnaces on hold. This is due to COVID-19 restrictions in the country as well as bad weather amid a gloomy economic outlook.

With rampant inflation and aggressive rate hikes from major central banks, investors are bracing for slower economic growth worldwide.

These negative factors have put downward pressure on iron ore prices which, in turn, impacts Fortescue’s earnings.

Other shares in miners such as BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) are down 3.8% and 4.33%, respectively.

It’s worth noting that Fortescue sometimes suffers larger share price drops than its peers due to the lower-grade iron ore the company produces.

At 62% Fe (iron), Fortescue’s product is sold at a discounted rate below the benchmark price as opposed to its peers.

Fortescue share price snapshot

Adding to today’s decline, the Fortescue share price has tumbled almost 30% in the past 12 months.

When looking year to date, its shares are down around 13%.

Fortescue presides a market capitalisation of approximately $51 billion.

The post Why is the Fortescue share price slipping 5% today? appeared first on The Motley Fool Australia.

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More reading

• Why did the Fortescue share price sink in FY22?
• 5 things to watch on the ASX 200 on Tuesday
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• Should investors dig the Fortescue share price in July?
• How did the Fortescue share price perform in June?

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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