S&P/ASX 200 Index (ASX: XJO) shares are down 1.3% to 8,708.5 points on Friday.

Meanwhile, brokers have lifted their ratings on several ASX shares this week. 

Let’s review. 

Northern Star Resources Ltd (ASX: NST)

The Northern Star Resources share price is $21.59, down 4.2% today.

Over the past month, this ASX 200 gold share has fallen 5%.

UBS upgraded Northern Star shares to a buy rating on Wednesday.

The broker raised its 12-month price target from $24.25 to $29.40.

This implies a potential 36% upside ahead.

HomeCo Daily Needs REIT (ASX: HDN)

The HomeCo Daily Needs REIT share price is $1.09, down 1.4% today.

Over the past month, this real estate investment trust (REIT) has fallen 16%.

UBS upgraded HomeCo Daily Needs REIT shares to a buy rating yesterday.

The broker has a 12-month price target of $1.30.

This implies a potential 19% upside ahead.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is $8.70, down 1.6% today.

Over the past month, this ASX coal share has ascended 13%.

JP Morgan upgraded Whitehaven Coal shares to a buy rating this week.

The broker increased its 12-month price target from $8.20 to $9.30.

This indicates potential capital gains of 7% over the next year. 

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is $7.56, down 4.9% today.

Over the past month, the gold mining stock has lifted 1.6%.

UBS upgraded Regis Resources shares to a hold rating this week.

The broker raised its 12-month price target from $8 to $8.90.

This suggests a potential 17% upside ahead.

Bapcor Ltd (ASX: BAP)

The Bapcor share price is 81 cents, up 0.3% today.

Over the past month, this ASX consumer discretionary share has lost 92% of its market valuation.

Morgans upgraded Bapcor shares to a hold recommendation with an 88-cent target.

This implies a potential 10% upside ahead.

Ora Banda Mining Ltd (ASX: OBM)

The Ora Banda Mining share price is $1.52, down 5% today.

Over the past month, the ASX gold mining share has risen 11%.

UBS upgraded Ora Banda Mining shares to a buy rating this week.

The broker raised its 12-month price target from $1.80 to $1.95.

This indicates potential capital gains of 28% over the next year. 

ARB Corporation Ltd (ASX: ARB)

The ARB Corporation share price is $18.42, down 0.8% today.

Over the past month, this ASX retail share has fallen 9%.

Canaccord Genuity upgraded ARB shares to a buy rating this week.

The broker increased its 12-month price target from $21.80 to $25.40.

This suggests a potential 38% upside ahead.

Alkane Resources Ltd (ASX: ALK)

The Alkane Resources share price is $1.82, down 3.9% today.

Over the past month, Alkane Resources shares have risen 14%.

UBS upgraded the ASX gold and antimony miner to a buy rating this week.

The broker raised its 12-month price target from $2 to $2.35.

This suggests potential capital growth of 29% over the next year. 

National Australia Bank Ltd (ASX: NAB)

The NAB share price is $38.50, up 2% today.

Over the past month, NAB shares have fallen 7%.

Goldman Sachs upgraded the ASX 200 bank share to a hold rating yesterday.

The broker raised its price target from $38.75 to $39.75.

This suggests a potential 17% upside ahead.

The post 9 ASX shares just upgraded by the experts appeared first on The Motley Fool Australia.

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JPMorgan Chase is an advertising partner of Motley Fool Money. Motley Fool contributor Bronwyn Allen 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 ARB Corporation, Goldman Sachs Group, and JPMorgan Chase. The Motley Fool Australia has recommended ARB Corporation and HomeCo Daily Needs REIT. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

S&P/ASX All Ords Index (ASX: XAO) shares are 1.3% lower at 8,895.6 points on Friday.

Brokers cut their ratings on several ASX All Ords shares this week.

Let’s take a look.

Sims Ltd (ASX: SGM)

The Sims share price is $24.53, down 3.2% today.

Over the past month, this ASX materials share has fallen 7%.

Morgan Stanley downgraded Sims shares to a sell rating on Monday.

The broker cut its 12-month price target from $24 to $22.

This implies a potential 10% downside ahead.

Elders Ltd (ASX: ELD)

The Elders share price is $6.37, up 1.8% today.

Over the past month, this ASX consumer staples share has increased 13%.

Bell Potter downgraded Elders shares to a hold rating yesterday.

The broker raised its 12-month price target from $6.45 to $6.70.

This suggest a potential 5% upside ahead.

The broker said:

Following the recent recovery in the share price we are moving our rating from Buy to Hold.

Investments in Delta and SYSMOD are the largest drivers of near term growth, however, we see the large livestock tailwinds the agency business has benefited from the past two years facing more difficult comparisons moving forward.

We are cognisant cattle prices no longer carry the value arbitrage they once did to US90CL indicators, trading at a premium for the first time since early CY23.

Charter Hall Retail REIT (ASX: CQR)

The Charter Hall Retail REIT share price is $3.68, down 1.3% today.

Over the past month, this real estate investment trust (REIT) has fallen 13%.

UBS downgraded Charter Hall Retail REIT shares to a hold rating on Wednesday.

The broker lowered its 12-month price target from $4.65 to $4.20.

This implies a potential 14% upside ahead.

Dyno Nobel Ltd (ASX: DNL)

The Dyno Nobel share price is $3.92, down 2.4% today.

Over the past month, this ASX materials share has risen 0.4%.

Jarden downgraded Dyno Nobel shares to a hold rating this week.

The broker has a 12-month price target of $3.80.

This indicates a potential 3% downside over the next year. 

Tabcorp Holdings Ltd (ASX: TAH)

The Tabcorp share price is 92 cents, down 3.2% today.

Over the past month, this ASX consumer discretionary share has risen 1.1%.

Morgans downgraded Tabcorp shares from buy to accumulate.

The broker has a 12-month price target of $1.02.

This suggests a potential 14% upside ahead.

Morgans said:

We gained encouragement from TAH’s FY26 result, with the company responding to a modest growth environment (+1%) with disciplined cost control, while softer D&A helped underlying NPAT come in +6% ahead of market expectations and broadly in line with our estimates.

Other highlights for us included strong customer retention following the introduction of the new retail commercial model, the rollout of next-generation terminals, and a strong sports performance through the FIFA World Cup. 

EchoIQ Ltd (ASX: EIQ)

The EchoIQ share price is 50 cents, down 12% today.

Over the past month, this ASX tech share has crashed 68%.

Bell Potter downgraded EchoIQ shares from speculative hold to speculative sell this week.

The broker slashed its 12-month price target from $1.75 to 30 cents.

This suggests potential further downside of 40% over the next year. 

The post 6 ASX shares downgraded by brokers this week appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor Bronwyn Allen 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 Charter Hall Retail REIT. The Motley Fool Australia has recommended Elders. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is taking another hit on Friday, with investors facing one of the weakest stretches of the year.

At the time of writing, the benchmark index is down 1.28% to 8,706 points and trading around its session low.

That follows losses of 1.03% on Thursday, 0.11% on Wednesday, and 1% on Tuesday, meaning the ASX 200 has now fallen more than 3% in the past 4 sessions.

The rebound from Thursday’s low of 8,742 points didn’t last long either.

The index has now effectively wiped out its gains for 2026 and is around 6% below its 52-week high of 9,267 points.

So, what’s worrying investors?

Oil, bond yields, and rate hikes

There is plenty happening at once, but rising oil prices and interest rate expectations are doing a lot of the damage.

Brent crude has jumped to US$107.87 a barrel as the conflict in the Middle East continued to disrupt energy markets.

That has added to inflation concerns and pushed bond yields higher around the world.

Australia’s 3-year government bond yield climbed above 5% on Friday, reaching its highest level in around 15 years.

And rate expectations have moved quickly as well.

The RBA cash rate is currently at 4.35%, but markets are now pricing a high chance of another 25-basis point increase at the 29 September meeting.

Citi now reportedly expects hikes in both September and November, which would take the cash rate to 4.85%.

Miners are getting hit hard

The selling is widespread across the ASX 200, with 151 stocks falling, 47 rising, and just 2 unchanged.

Resources stocks are tanking after copper prices dropped more than 4% following reports that the US has delayed a decision on tariffs on refined copper.

BHP Group Ltd (ASX: BHP) shares are down 4.34% to $60.69, while Rio Tinto Ltd (ASX: RIO) shares have fallen 3.54% to $168.30.

Northern Star Resources Ltd (ASX: NST) shares are also down 3.66% to $21.715, and Evolution Mining Ltd (ASX: EVN) has dropped 4.56% to $13.695.

What should investors watch next?

The big question now is whether Friday’s sell-off starts to settle down or carries into next week.

Investors will also be watching US inflation data due later today, which could influence expectations for another Fed Reserve rate rise.

I’ll also be watching whether the weakness remains concentrated in miners or starts to spread into other parts of the market.

The post ASX 200 tumbles to a 2-month low and wipes out its 2026 gains. What on earth is going on? appeared first on The Motley Fool Australia.

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• Megaport shares have surged 10% in a week to $18. I think they could hit $25

Citigroup is an advertising partner of Motley Fool Money. 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 BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.