The S&P/ASX 200 Index (ASX: XJO) has given back its early gains and dropped into the red. In afternoon trade, the benchmark index is down 0.5% to 8,554.4 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Commonwealth Bank of Australia (ASX: CBA)
The Commonwealth Bank share price is down 1.5% to $180.82. This banking giant's shares have been under pressure this week. This could be due to speculation that a great rotation could happen in FY 2026 with large investors taking profits on bank stocks and moving to underperforming mining giants like BHP Group Ltd (ASX: BHP). Interestingly, BHP's shares are up strongly today.
G8 Education Ltd (ASX: GEM)
The G8 Education share price is down 4% to $1.03. This may have been driven by a broker note out of Macquarie this morning. According to the note, the broker has downgraded this childcare centre operator's shares to a neutral rating (from outperform) with a reduced price target of $1.15 (from $1.53). Macquarie made the move after lowering its occupancy estimates for G8 Education due to a widely reported criminal incident at one of its centres.
JB Hi-Fi Ltd (ASX: JBH)
The JB Hi-Fi share price is down 5.5% to $106.29. This is despite there being no news out of the retail giant today. However, with its shares up very strongly over the past 12 months, it is possible that some investors are taking a bit of profit off the table today. For example, despite today's sizeable pullback, the JB Hi-Fi share price is still up approximately 75% since this time last year.
Vault Minerals Ltd (ASX: VAU)
The Vault Minerals share price is down almost 5% to 40 cents. The catalyst for this decline has been the release of the gold miner's preliminary fourth quarter and full year sales results. According to the release, Vault Minerals' preliminary four quarter gold sales were 95,974 ounces and its FY 2025 sales were 385,230 ounces. The latter is 1.2% below the lower end of its FY 2025 sales guidance. This comprises Leonora gold sales of 193,817 ounces, Deflector sales of 108,526 ounces gold and 492 tonnes copper, and Mount Monger gold sales of 82,887 ounces. In respect to its costs, management advised that its group all in sustaining costs (AISC) are yet to be finalised. However, they will be released with its quarterly report later this month.
