The S&P/ASX 200 Index (ASX: XJO) is having a difficult time on Thursday amid concerns over the US debt ceiling. At the time of writing, the benchmark index is down 0.95% to 7,146.2 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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29Metals Ltd (ASX: 29M)
The 29Metals share price is down a further 13% to 72 cents. Investors have been selling this copper producer's shares this week after it released an update on its guidance for Capricorn Copper. This follows the cessation of operations after an extreme weather event. Investors appear very disappointed with its revised guidance.
Accent Group Ltd (ASX: AX1)
The Accent share price is down 5% to $1.93. Investors have been selling this footwear retailer's shares amid concerns over a trading update from one of its peers. As the two companies share similar demographics, investors appear to believe that Accent could also be experiencing a softening of demand.
Temple & Webster Group Ltd (ASX: TPW)
The Temple & Webster share price is down 5% to $4.63. This is despite there being no news out of the online furniture retailer. However, with its shares on fire recently, some investors may be taking a bit of profit off the table during the current market volatility. Especially after the aforementioned trading update which has spooked investors in the retail sector.
Treasury Wine Estates Ltd (ASX: TWE)
The Treasury Wine share price has dropped 6% to $11.96. Investors have been hitting the sell button following the release of this wine giant's trading update. Treasury Wine revealed that trading conditions have been mixed. As a result, it expects to post a small decline in sales in FY 2023 and EBITS growth of 11% to 13%. The latter is solid but short of what some were expecting.
