4 ASX shares facing a Trump Slump today

Investors have flooded back into the share market today sending the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) around 3% higher to back above 5,300 points.

The mining, information technology and healthcare sectors are receiving especially strong support today, although the same can’t be said for the gold, property and utility sectors.

Despite today’s massive rally, a number of shares have been left way behind, including:

Sydney Airport Holdings Ltd (ASX: SYD)

Sydney Airport shares have plunged more than 4.8% today thanks to the sharp rise in bond yields overnight. This has seen investors rush to the exits as a rise in bond yields makes Sydney Airport’s dividend yield less attractive to income investors. Higher interest rates will also increase the finance costs required to service the billions of dollars worth of debt it carries on its balance sheet. The shares have now fallen around 23% over the past three months as investors position themselves ahead of potentially higher US interest rates.

Transurban Group (ASX: TCL)

Transurban shares have also fallen close to 5% today for broadly the same reasons outlined above. Interestingly, the shares have also plunged around 23% since August and are currently trading at new-52 week lows. Although Transurban now offers a dividend yield of 5.2%, I think investors should be prepared for further falls if bond yields keep rising.

Westfield Corp Ltd (ASX: WFD)

Shares of Westfield have dropped around 3% today after the shopping centre owner reported slowing specialty retail sales growth for the third quarter. Sales growth came in at 2.2%, considerably lower than the rolling 12-month rate of 3.3%. In addition to the mixed report, the shares have also been sold down today as investors rotate out of interest rate sensitive shares. With today’s decline, Westfield shares have now fallen nearly 25% from their 52-week highs.

St Barbara Ltd (ASX: SBM)

St Barbara is one of a number of gold shares getting smashed today as investors leave the safe haven sector in search of riskier assets. The sector as a whole is down by around 5% with St Barbara being one of the worst performers after losing around 7.8% to $2.72. Nevertheless, the shares have still performed remarkably well over the past 12 months, with a gain of more than 140%.

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Motley Fool contributor Christopher Georges has no position in any stocks mentioned. 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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