Why these 4 ASX shares have started the week deep in the red

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is having a disappointing start to the week due to heavy declines in the banking sector. In afternoon trade the index is down 0.6% to 5,751 points.

Four shares which have fallen more than most today are listed below. Here’s what you need to know:

The Asaleo Care Ltd (ASX: AHY) share price has fallen 6% to $1.39 despite there being no news out of the personal care company. Its shares have now fallen over 27% since the middle of last month when its CEO and managing director Peter Diplaris sold half his stake in the company.

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price has tumbled 4% to $10.71. Today’s decline came after the regional bank released pro-forma financial information adjusted for a change in treatment of its Homesafe income and funding costs. These changes exclude any unrealised income and associated funding costs and would have reduced its half-year cash earnings by approximately $21.2 million or 4.5 cents per share.

The Grange Resources Limited (ASX: GRR) share price has fallen almost 7% to 14 cents after the iron ore mining and pellet production company released a market update. According to the release 2017 production output is expected to decrease by between 400,000 and 500,000 tonnes of iron ore product due to remediation work at its North Pit.

The Retail Food Group Limited (ASX: RFG) share price is down 9% to $4.75. Concerns over the impact accounting changes will have on the business in FY 2019 led to UBS downgrading the company’s shares to a sell rating with a $4.70 price target. With its shares now changing hands at 11x trailing earnings, I think the company behind brands such as Gloria Jean’s and Donut King could be worth a closer look.

If your portfolio took a hit today from these declines then don't worry because these growth shares could give it a huge lift over the next few years. I'm tipping each of them to smash the market for the foreseeable future.

Top 3 ASX Blue Chips To Buy In 2017

For many, blue chip stocks means stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

If you're expecting to see the likes of Commonwealth Bank, Telstra and Wesfarmers shares on this list, you'll be sorely disappointed. Not only are their dividends growing at a snail's pace, their profits are under pressure too due to the increasing competitive environment.

The contrast to these "new breed" blue chips couldn't be greater... especially the very real prospect of significant share price gains, something that's looking less likely from the usual blue chip suspects.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Retail Food Group Limited. 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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