In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 0.6% to 7,426.3 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
Best & Less Group Holdings Ltd (ASX: BST)
The Best & Less share price is down 2.5% to $3.41 following the release of a trading update. That update reveals that the retailer has felt the impact of COVID-19 lockdowns. As a result, its like for like sales are down -1.3% financial year to date. Management revealed that it has lost 9,272 trading days so far in FY 2022. This is the equivalent to 27.5% of total trading days.
BHP Group Ltd (ASX: BHP)
The BHP share price is down 2% to $36.73. This is despite there being no news out of the mining giant. However, today's weakness appears to have been driven by a poor night of trade for most commodity prices. Coal, iron ore, aluminium, copper, and nickel all fell during overnight trade.
Mesoblast limited (ASX: MSB)
The Mesoblast share price is down 5.5% to $1.79. This decline appears to have been driven by profit taking following some very strong gains on Monday. Investors were buying the biotech company's shares after the release of a promising study update.
Nearmap Ltd (ASX: NEA)
The Nearmap share price is down 3% to $1.75. A number of tech shares are falling today amid broad weakness in the sector. Today's decline means the aerial imagery technology and location data company's shares have now fallen almost 20% since this time last week. This has been caused by the release of its guidance for FY 2022.
