There's plenty of red splattered across the ASX boards today with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) plummeting 2% and 1.9%, respectively.
Investors continue to fret about the situation unfolding in Greece, together with plummeting commodity prices being caused by a rout on the Chinese market. Here are four stocks that have been caught up in the market's broad sell-off today.
Flight Centre Travel Group Ltd (ASX: FLT) fell into a nosedive, losing 2.9% as its shares plunged to a low of $33.03. Flight Centre has come under enormous pressure since it announced a profit downgrade recently. While investors are likely concerned about the falling Australian dollar and how it could harm outbound travel trends, any further weakness is more likely to be impacted by poor consumer confidence (in part sparked by the Greek and Chinese 'crises').
Newcrest Mining Limited (ASX: NCM) fell 3.7%, making it one of many gold mining stocks in the red zone today. As highlighted by the Fairfax press, gold fell to a near four-month low overnight as a result of the rallying US dollar. Given the high level of uncertainty in the market right now, investors are shifting their funds into the US greenback which is having a negative impact on the gold price.
Prima BioMed Limited (ASX: PRR) has been crushed 29.4%, following yesterday's 44% rally. Prima BioMed is a leading immune-oncology company which has just been endorsed by the European Medicines Agency to continue developing a treatment for breast cancer. However, today's pullback has been caused by a capital raising which could see the group raise up to $10 million in shares by offering shares at 5 cents each (compared to yesterday's closing price of 8.5 cents).
Magellan Financial Group Ltd (ASX: MFG) shares slipped 5.2% to trade at $16.93 after the fund manager reported a decline in funds under management (FUM) in June compared to May as a result of weak conditions for global equity markets. It also reported net institutional outflows of $58 million in June which follows the $73 million of net institutional outflows reported for April. You can read more about that, here.
