The Xero Limited (ASX: XRO) share price is tumbling lower on Thursday despite no word having been released by the company.
However, it's a rough day on the market for many ASX tech shares, particularly those on the S&P/ASX 200 Index (ASX: XJO).
At the time of writing, the Xero share price is $103.84, 3.55% lower than its previous close.
For context, the ASX 200 is currently trading 0.41% higher.
Let's take a closer look at what's going on with Xero's stock today and the performance of its ASX 200 technology peers.
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Xero share price slumps 4% on Thursday
The Xero share price is sliding lower today, losing all its gains for the week so far.
After tumbling 5% on Monday, the cloud-based account and business software provider's stock gained 3% on Tuesday and 5% on Wednesday.
Sadly, today's tumble has brought it back to square one.
It also makes Xero the second worst performing stock on the S&P/ASX 200 Information Technology Index (ASX: XIJ) on Thursday.
Only Block Inc (ASX: SQ2) is recording a bigger fall. Its share price is currently down 3.79%.
Though, the ASX 200 sector as a whole is also suffering, having slipped 1.39% at the time of writing.
Looking at the tech sector beyond the ASX 200, the S&P/ASX All Technology Index (ASX: XTX) is recording a 0.88% slump.
The Xero share price's poor Thursday performance sees it 28% lower than it was at the start of 2022. It has also fallen 17% since this time last year.
