The S&P/ASX 200 Index (ASX: XJO) is having another day to forget on Monday. At the time of writing, the benchmark index is down 1.45% to 7,866.1 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Adriatic Metals (ASX: ADT)
The Adriatic Metals share price is down 10% to $4.16. This follows the release of an operational update from the silver miner today. Investors were selling its shares despite Adriatic Metals reporting a record quarter of processing throughput of 68kt ore milled in the first quarter. This is up from 47kt during the fourth quarter. This underpinned record quarterly sales of $33 million, an increase of 23% from Q4 of 2024. It seems that the market was expecting an even stronger performance. Laura Tyler, Managing Director & CEO of Adriatic, commented: "We have achieved key operational and corporate milestones over the past few months. Despite not achieving all the criteria for commercial production , the Vares Silver Operation is now ramping up steadily and generating positive cash flow.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is down almost 8% to $1.69. This is despite there being no news out of the lithium miner today. However, it is worth noting that a number of lithium stocks are suffering today. This was also the case with their peers on Wall Street on Friday. Investors may have concerns that potential tariffs on US auto sales could hit electric vehicle demand.
Rio Tinto Ltd (ASX: RIO)
The Rio Tinto share price is down almost 4% to $116.79. This follows a poor night of trade for the mining giant's NYSE listed shares. Concerns about global economic growth may be behind this weakness, which is weighing on most mining stocks today.
Zip Co Ltd (ASX: ZIP)
The Zip Co share price is down 7% to $1.62. This buy now pay later provider's shares have been caught up in the market selloff today. The selloff has hit the tech sector and growth shares particularly hard. So much so, the S&P ASX ALL TECHNOLOGY index is down 2.2% at the time of writing. Zip shares are now down by over 50% from their 52-week high.
