The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish a positive week on a disappointing note. In afternoon trade the benchmark index is down 0.4% to 6,069.4 points.
Four shares that have fallen more than most today are listed below. Here's why they are ending the week in the red:
The Afterpay Touch Group Ltd (ASX: APT) share price is down 3% to $17.03 despite there being no news out of the payments company. However, a number of local tech shares have dropped lower today after their U.S. tech peers edged lower overnight due to trade war concerns. The technology-focused Nasdaq index closed the session down 1.2%.
The Beach Energy Ltd (ASX: BPT) share price has tumbled 8% to $1.66 following a decline in oil prices overnight. News that President Trump wouldn't be meeting with China's President Xi by their key March deadline has sparked fears that the trade war could reignite. As a result, there are concerns over the outlook for oil demand.
The REA Group Limited (ASX: REA) share price is down 4% to $74.81 following the release of the property listings company's half year results. Although the realestate.com.au operator delivered an impressive 20% increase in first half profits, it warned that its second half may be weaker due partly to the Federal election. This appears to have spooked some investors, potentially creating a buying opportunity.
The Webjet Limited (ASX: WEB) share price is down 3.5% to $11.98 despite there being no news out of the online travel agent. Overnight rival Expedia reported its latest quarterly results which revealed booking growth of 11% on the prior corresponding period. The main driver of Expedia's growth was its domestic operations, with international bookings moderating in the final quarter. The market may be concerned that this is a sign that Webjet's bookings growth could be slower than expected.
