In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is dropping. At the time of writing, the benchmark index is down 0.4% to 7,502.1 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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A2 Milk Company Ltd (ASX: A2M)
The A2 Milk share price has continued its slide and is down over 2% to $5.56. Earlier this week the team at Credit Suisse reiterated their underperform rating and $5.50 price target. The broker has concerns over China's falling birth rates and the impact this may have on its sales. The A2 Milk share price is now down a very disappointing 52% in 2021.
Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is down 2.5% to $18.12. This appears to have been driven by profit taking after some strong gains in recent weeks. For example, prior to today, the travel agent's shares were up a massive 35% since 20 August.
Medibank Private Ltd (ASX: MPL)
The Medibank share price is down 2.5% to $3.54. This private health insurer's shares have fallen today after trading ex-dividend this morning for its fully franked 6.9 cents per share final dividend. Eligible shareholders can now look forward to receiving this dividend in a little over three weeks on 30 September.
St Barbara Ltd (ASX: SBM)
The St Barbara share price is down 6.5% to $1.46. Investors have been selling St Barbara and other gold miners today following a pullback in the gold price. According to CNBC, the spot gold price fell 2% on Tuesday night to US$1,796.40 an ounce. This was driven by the strengthening US dollar and higher bond yields.
