The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) is trading sharply lower this afternoon on the back of growing concerns over next week's U.S. Presidential election.
Investors have decided to rush to the exits, sending the main index 1.4% lower to 5,214 points. The only bright spot on the market today has been the gold sector, which has benefited from all of the uncertainty.
A number of shares have been hit extremely hard today, including:
Nextdc Ltd (ASX: NXT)
NextDc is one of a number of smaller cap shares getting hammered today. Its shares have fallen more than 10% for no obvious reason other than profit taking. Other shares in the same boat today include Webjet Limited (ASX: WEB) – down 9.5%, Retail Food Group Limited (ASX: RFG) – down 5.2%, and BWX Ltd (ASX: BWX) down 5%.
Vita Group Limited (ASX: VTG)
Vita Group shares are suffering their third-straight day of falls today, dropping another 7.3% to $3.43. The shares have now lost more than 26% of their value since information emerged that suggested the company was renegotiating its commercial arrangements with Telstra Corporation Ltd (ASX: TLS). Because this segment of Vita Group's operation is so vital, investors shouldn't be surprised to see further volatility until the issue is resolved.
Bega Cheese Ltd (ASX: BGA)
Shares of Bega Cheese have fallen 4.8% today after receiving a please explain from the ASX in relation to its recent update relating to its infant formula joint venture with Blackmores Limited (ASX: BKL). The company has defended its decision to make the announcement at its AGM and not provide the update to investors as a separate market sensitive announcement. In any case, the shares have now plunged around 30% since last week's disappointing update.
REA Group Limited (ASX: REA)
REA Group shares have fallen more than 3.4% today to sell at $49.49 – the first time the shares have dipped below $50 a share since early February. Although some investors may be nervous ahead of its upcoming first quarter results, today's decline is consistent with a number of other higher multiple stocks that are being sold off including Domino's Pizza Enterprises Ltd. (ASX: DMP) – down 3.3%, and Aristocrat Leisure Limited (ASX: ALL) – down 3%.
