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.
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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%.
