The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week on a disappointing note. In afternoon trade the index is down almost 0.9% to 6,209.5 points.
Four shares that have fallen more than most today are listed below. Here's why they are ending the week in the red:
The Australia and New Zealand Banking Group (ASX: ANZ) share price has fallen 2% to $27.18. All four of Australia's biggest banks have come under pressure today, possibly due to investors hitting the sell button in a panic after Commonwealth Bank of Australia (ASX: CBA) CEO Matt Comyn was grilled at the House of Representatives standing committee on economics.
The Automotive Holdings Group Ltd (ASX: AHG) share price has dropped 3.5% to $1.96 after being dumped out of the ASX 200 index. According to an announcement by S&P Dow Jones Indices this morning, the auto retailer will be removed from the benchmark index on March 18 and replaced with investment platform provider Hub24 Ltd (ASX: HUB). HUB24's shares have raced higher on the news.
The Syrah Resources Ltd (ASX: SYR) share price has tumbled 5% lower to $1.17. At one stage today the graphite miner's shares sank to a 52-week low despite there being no news out of it. I suspect concerns over global economic growth have led to a selloff of battery ingredient producers today. The Orocobre Limited (ASX: ORE) share price has also fallen heavily.
The Yancoal Australia Ltd (ASX: YAL) share price has sunk 6% lower to $3.85. The coal miner's share price decline is entirely attributable to its shares trading ex-dividend this morning for its final dividend. Last month Yancoal declared a final dividend worth a total of $377million or 28.55 cents per share. This comprised an ordinary dividend of 15.96 cents per share and a special dividend of 12.59 cents per share.
