Why these 4 ASX shares are in the red today

In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down by a disappointing 0.2% to 5,957 points.

Four shares which have acted as a drag on proceedings are listed below. Here’s why they are in the red:

The Audio Pixels Holdings Ltd (ASX: AKP) share price has crashed 14% lower to $15.71 following the release of an update on its audio speakers. According to the release, a deficiency in the chips internal electrical interconnects has delayed the delivery of its wafers by three to four weeks. Investors appear to be growing restless and concerned the speakers may never live up to the company’s $500 million market cap.

The Independence Group NL (ASX: IGO) share price has tumbled 4% to $4.10. As well as taking a hit from the gold price falling to a four-month low, Independence is feeling the brunt of a sharp decline in the copper price overnight. I’m quite bearish on gold in 2018, so would suggest investors lock in their gains.

The Pilbara Minerals Ltd (ASX: PLS) share price has fallen 3% to 92.2 cents. The majority of Australia’s lithium miners are in the red today as investors continue to take profit. The Pilbara Minerals’ share price has now lost over 16% of its value in a week.

The Santos Ltd (ASX: STO) share price is down almost 2% to $4.93 following the release of a broker note out of the Macquarie equities desk. According to the note, the broker has downgraded the energy company to a neutral rating from outperform.

If your portfolio needs a lift after these declines then look no further than these quality blue-chip shares. I'm tipping them to beat the market in 2018.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean 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 2018."

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%.

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.

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Motley Fool contributor James Mickleboro has no position in any of the 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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