S&P/ASX 200 rout intensifies as shares plunge

Credit: Alex Proimos

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has fallen further today in what could be its fourth consecutive session in the red.

Indeed, it’s been a shaky start to 2016 following what was a strong Santa rally, caused by heavy losses in a number of blue chip shares amid further volatility in China. Weak international leads have also impacted the market’s sentiment.

Source: Google Finance; one-month chart for S&P/ASX 200

Source: Google Finance; one-month chart for S&P/ASX 200

The ASX 200 is down 0.8% as at the time of writing, led by each of the major banks. All four have fallen in excess of 0.7% with Australia and New Zealand Banking Group (ASX: ANZ) and National Australia Bank Ltd. (ASX: NAB) hit the hardest, down 0.9% and 1% respectively.

BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) have also shed 1.5% and 2.2%, while South32 Ltd (ASX: S32) is down 3.4% around midday.

But they’re not the worst performers. Slater & Gordon Limited (ASX: SGH) shares have continued to plunge, falling 5.3%, while Fortescue Metals Group Limited (ASX: FMG) and EVOLUTION FPO (ASX: EVN) shares are down 5.8% and 5.3%, respectively.

JB Hi-Fi Limited (ASX: JBH) has been one of the top-performing shares, rising 3.3% and bucking the trend. Its shares have risen a total of 8.8% since the beginning of the week.

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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