It has been another disappointing session for the S&P/ASX 200 Index (ASX: XJO). In afternoon trade, the benchmark index is down 1.4% to 7,063.8 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Brainchip Holdings Ltd (ASX: BRN)
The Brainchip share price has continued its decline and has fallen a further 13% to a new multi-year low of 19.5 cents. Yesterday, Intel (NASDAQ: INTC) unveiled an array of technologies to bring artificial intelligence everywhere and make it more accessible across all workloads, from client and edge to network and cloud. The end may be nigh for Brainchip's Akida technology.
IGO Ltd (ASX: IGO)
The IGO share price is down 4% to $12.09. This has been driven by a broker note out of Morgan Stanley this morning. According to the note, the broker has downgraded this battery materials miner's shares to an underweight rating with an $11.60 price target. The broker made the move on the belief that high battery material inventories could put significant pressure on prices.
Sayona Mining Ltd (ASX: SYA)
The Sayona Mining share price is down 12% to 9.2 cents. Investors have been selling this lithium miner's shares amid concerns that lithium prices could continue to tumble over the next 12-24 months.
Transurban Group (ASX: TCL)
The Transurban share price is down 3.5% to $12.70. This follows news that the ACCC has opposed the toll road giant's plans to acquire a controlling stake in Horizon Roads. The corporate regulator determined that the transaction would likely reduce competition for future toll road concessions in Victoria. Transurban advised that it is closely reviewing the decision and will consider all the options available to it.
