Business
Here’s why the Fortescue (ASX:FMG) share price sank 8% today – The Motley Fool Australia
The Fortescue Metals Group Limited (ASX:FMG) share price was out of form on Wednesday and sank 8%. Here’s what you need to know…
The S&P/ASX 200 Index (ASX: XJO) ended its winning streak on Wednesday by dropping 0.85% to 6,714.1 points.
While a good number of shares dropped lower with the index, the worst performer by some distance was the Fortescue Metals Group Limited (ASX: FMG) share price.
The iron ore producer’s shares ended the day a disappointing 8% lower at $20.33.
Why did the Fortescue share price sink 8% on Wednesday?
Investors were selling Fortescue’s shares on Wednesday following a sharp decline in the iron ore…
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