In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down almost 0.7% to 5,972 points due largely to declines in the financial sector.
Four shares that have fallen more than most today are listed below. Here's why they have crashed lower:
The Aristocrat Leisure Limited (ASX: ALL) share price has tumbled 6% to $22.20 following the release of its full-year results. Initially the market responded positively to the release, driving its shares up almost 4%. Considering the strong result and positive outlook, this decline could be due to investors feeling that the company has overpaid for its latest acquisition.
The Independence Group NL (ASX: IGO) share price has fallen 4% to $4.26 following a drop in the copper price for the third consecutive day. The base metal has come under pressure this week amid concerns that Chinese demand could be waning.
The MyFiziq Ltd (ASX: MYQ) share price is down almost 8% to 66.5 cents. The body contour and image tracking technology company's shares fell as much as 21% at one stage before recovering. With its shares up over 200% in the last ten days, today's decline is likely to be a case of profit taking.
The WiseTech Global Ltd (ASX: WTC) share price has fallen almost 5% to $12.00. The logistics company's shares have come under pressure recently following a negative broker note out of Citi which revealed that its analysts have slapped a sell rating on its shares on valuation grounds. I would agree that its shares are a touch expensive now.
