The S&P/ASX 200 Index (ASX: XJO) is currently having a rough day. At the time of writing, it's down by 1.8%.
If it finishes like this, then it'll be one of the most painful days in 2022 for the ASX 200.
What's happening to the index?
Well, changes in the value of an index are dictated by movements in the share prices of the underlying businesses.
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ASX shares drop
There are some big movements today by many of the ASX's biggest blue chips.
The BHP Group Ltd (ASX: BHP) share price is down by 6.3%.
The Commonwealth Bank of Australia (ASX: CBA) share price is down 2%.
The Macquarie Group Ltd (ASX: MQG) share price is down 2.2%.
The Goodman Group (ASX: GMG) share price is down 3%.
The National Australia Bank Ltd (ASX: NAB) share price and the Westpac Banking Corp (ASX: WBC) share price are both down around 1.7%.
But those are just the declines of some of the biggest names.
There are a few bigger negative movements within the ASX 200 by some of the smaller names. For example:
The Pointsbet Holdings Ltd (ASX: PBH) share price is down 10%, Perseus Mining Limited (ASX: PRU) shares are falling 8%, the Evolution Mining Ltd (ASX: EVN) share price is sinking 8%, Sandfire Resources Ltd (ASX: SFR) shares are sliding 7.5%, the Ramelius Resources Limited (ASX: RMS) share price is down 6.8%, and the Northern Star Resources Ltd (ASX: NST) share price is falling 5%.
It's a hard day in the gold sector. According to Commsec, gold futures dropped by 0.6% overnight.
But, some of the ASX 200's decline could be explained by the fact that some businesses have gone ex-dividend. That simply means that investors buying shares of those specific companies today won't be entitled to the recently announced dividend.
BHP is one of those businesses that went ex-dividend today. That could explain the majority of the BHP share price decline.
What else could be affecting the ASX 200?
The different share markets around the world often take cues from each other.
Last night, the S&P 500 (INDEXSP: .INX) fell by 0.8%. This index represents 500 of the biggest US businesses, which are also among the biggest in the world.
However, more falls are indicated for the US share market. According to CNN, the S&P 500 futures is currently in the red, with an implied opening drop of 0.7%. The NASDAQ futures currently show a drop of 1.2% at the open. But, the market movement could be different by the time the US share market opens.
Sizeable declines for the US share market over two consecutive trading sessions may also be unnerving ASX investors. Time will tell whether this is a short-term dip or a return to longer-term declines like we saw in the first half of 2022.
