Why CSL, Domino’s, Temple & Webster, & Xero shares are tumbling

These ASX shares are tumbling on Tuesday…
The post Why CSL, Domino’s, Temple & Webster, & Xero shares are tumbling appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) is out form and sinking on Tuesday. In afternoon trade, the benchmark index is down 1.1% to 7,301.8 points.

Four ASX shares that are falling more than most are listed below. Here’s why they are tumbling lower:

CSL Limited (ASX: CSL)

The CSL share price has fallen almost 4% to $294.85. This appears to have been driven by weakness in the healthcare sector and a broker note out of Credit Suisse. In respect to the latter, the broker believes that CSL’s plasma collection market share will not recover to pre-COVID levels until 2025. Credit Suisse has a neutral rating and $315.00 price target on its shares.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price is down 2% to $155.80. This morning the pizza chain operator revealed that its ANZ boss, Nick Knight, will be leaving the company. The release explains that Mr Knight will be retiring after 30 years with the company. His exit has sparked a restructuring that will see Domino’s undertake a twin-region structure, focused on opportunities in Europe and Asia-Pacific.

Temple & Webster Group Ltd (ASX: TPW)

The Temple & Webster share price is down 3% to $12.57. As well as being caught up in the selloff, soft retail sales data may be weighing on this online furniture and homewares retailer’s shares today. The ABS revealed that retail sales fell 1.7% in August. This was the third month in a row of declines.

Xero Limited (ASX: XRO)

The Xero share price is down 6% to $140.57. This decline appears to have been driven by a selloff in the tech sector following a weak night of trade on the tech-focused Nasdaq index. It isn’t just Xero that is tumbling. The S&P ASX All Technology index is down a disappointing 2.4% this afternoon.

The post Why CSL, Domino’s, Temple & Webster, & Xero shares are tumbling appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Domino’s (ASX:DMP) share price slips amid management restructure
The healthcare sector is weighing on the ASX 200 on Tuesday

Technology shares are dragging the ASX 200 down on Tuesday

Why the Collins Foods (ASX:CKF) share price is surging higher today
2 top ASX growth shares that might be worth buying

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended CSL Ltd., Temple & Webster Group Ltd, and Xero. The Motley Fool Australia owns shares of and has recommended Xero. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!