The coronavirus has caused another sell-off today as investors headed for the exits.
The ASX 200 (ASX: XJO) dropped over 3% today and it's down around 10% this week. The ASX has followed overseas share markets such as Japan, the US and Europe where broad declines are occurring.
A sea of red
At one point today there was only one ASX share that was in the green, though by the end of the day there were a few pleasing increases.
At the red end of the ASX, the Harvey Norman Holdings Limited (ASX: HVN) share price fell 14% after reporting. The Gold Road Resources Ltd (ASX: GOR) share price dropped almost 14%. Shares like Idp Education Ltd (ASX: IEL) and WiseTech Global Ltd (ASX: WTC) both dropped almost 11%.
Even Afterpay Ltd (ASX: APT), which impressed yesterday, saw its share price plummet 9%.
Divestment softens market fall
Car dealership business AP Eagers Ltd (ASX: APE) announced yesterday that it would be selling its AHG Refrigerated Logistics business to Anchorage Capital Partners for $100 million on a debt and cash free basis.
It will reduce AP Eagers' net debt by $95 million, though AP Eagers may receive additional future cash proceeds depending on financial outcomes at the time of an exit by Anchorage.
AP Eagers' share price still declined by over 1% today as investors digested the news.
Other reports
Reporting season is nearly over with some other shares reporting today such as Japara Healthcare Ltd (ASX: JHC) which dropped 1.6% on further profit falls and the Resolute Mining Limited (ASX: RSG) share price dropped over 10% after reporting a net loss. There was one share within the ASX 200 that achieved an impressive 6.3% rise, which was Nextdc Ltd (ASX: NXT) after releasing its result.
