Fortescue (ASX:FMG) closed the day down more than 10% to $18.28 a share as the S&P/ASX200 closed lower today (30 July), slipping 36.40 points to 7,953.20.
The bottom performing stocks in this index are Fortescue and Arcadium Lithium (ASX:LTM), with the latter closing 6.26% lower.
Fortescue’s woes comes after the Perth-based company announced in mid-July that it would slash some 700 jobs across its global operations.
At the time, the company said the move was to help ensure it would remain “lean, impactful and agile“.
The S&P/ASX200 over the past five days is virtually unchanged but is 1.61% below its 52-week high.
Write to Adam Orlando at Mining.com.au
Images: FMG
