Why these 4 ASX shares are sinking lower today

The Afterpay Touch Group Ltd (ASX:APT) share price is one of four sinking lower today. Here's why…

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In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to give back yesterday's gains. At the time of writing the benchmark index is down over 0.4% to 6,159.6 points.

Four shares that have fallen more than most today are listed below. Here's why they are sinking like stones:

The Afterpay Touch Group Ltd (ASX: APT) share price has tumbled 6.5% lower to $15.69 despite there being no news out of the fintech star. Almost all of Australia's leading tech shares have taken a tumble today after heavy declines in the U.S. tech sector overnight. Despite today's decline Afterpay Touch's shares are still up a remarkable 266% since this time last year.

The iSentia Group Ltd (ASX: ISD) share price has fallen 4% to 36 cents. The media monitoring company's shares had risen nearly 19% over the last three trading sessions, so today's decline is likely to be a case of profit taking from traders. While its shares do look very cheap, I would suggest investors hold off an investment until there is a notable improvement in its performance.

The IVE Group Ltd (ASX: IGL) share price has dropped 4% to $2.17. The majority of this decline is attributable to the printing company's shares going ex-dividend this morning for its final 7 cents per share dividend. Eligible shareholders can now look forward to receiving this dividend in their nominated accounts on October 25.

The Speedcast International Ltd (ASX: SDA) share price has continued its poor run and is down a further 3.5% to $3.92. The shares of the communications satellite technology specialist have now fallen a massive 18% over the last two weeks or 37% since this time last month. A surprise profit downgrade not long after reaffirming its guidance has been to blame for the selloff. I would suggest investors wait for its next update before considering an investment

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended iSentia Group Ltd. 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 Scott Phillips.

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