The Wesfarmers Ltd (ASX: WES) share price struggled to keep up with the broader market on Monday despite no word having been released by the company.
At market close, the Wesfarmers share price finished at $46.18, 1.22% lower than its previous close.
For context, the S&P/ASX 200 Index (ASX: XJO) gained 0.05% on Monday.
Let's take a closer look at what might have been weighing on the conglomerate's shares today.
What went wrong for the Wesfarmers share price today?
Wesfarmers shares underperformed this afternoon despite getting off to a strong start this morning.
After reaching a high of $47.25 in mid-morning trade – a 1% gain – the Wesfarmers share price tumbled into the red around midday.
That was a similar performance to the broader market. It also dropped this afternoon amid concerns rising COVID-19 cases in China could extend lockdowns, as reported by the Australian Financial Review.
Wesfarmers' home sector – the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) – also slid lower for most of today. It closed 0.11% lower.
The Wesfarmers share price was the index's second-worst performer. The InvoCare Limited (ASX: IVC) share price was its biggest weight, falling 2.4% today.
Wefarmers shares have had a rough start to 2022. They've tumbled around 22% year to date. For comparison, the ASX 200 has fallen around 4% in that time.
The company's stock is also 15% lower than it was this time last year while the index has gained 1.7%.
