AU Evening Wrap: ASX Drops 1.6%; Gold Road Resources Dives 8.3%

The $S&P/ASX 200 (.XJO.AU)$ dropped 1.6 per cent, or 119.4 points to 7195.5 at market close, led by a sell-off in mining and technology stocks.

All sectors fell in the red. Information technology was the worst performing sector, down 3.9 per cent. $WiseTech Global Ltd (WTC.AU)$ shares dropped 4 per cent, $Xero Ltd (XRO.AU)$ declined 4.4 per cent, $Nextdc Ltd (NXT.AU)$ fell 2.8 per cent, $Technology One Ltd (TNE.AU)$ dropped 4.8 per cent.

Mining stocks also fell. $BHP Group Ltd (BHP.AU)$ shares were down 2.4 per cent, $Fortescue Ltd (FMG.AU)$ dropped 2.2 per cent and $Northern Star Resources Ltd (NST.AU)$ declined 3.2 per cent and $Ramelius Resources Ltd (RMS.AU)$ dropped 6.9 per cent. $Gold Road Resources Ltd (GOR.AU)$ tumbled 8.3 per cent after it lowered its forecast on annual production from the company's Gruyere mine.

$Johns Lyng Group Ltd (JLG.AU)$ shares dived 11.9 per cent after it downgraded its forecast on commercial construction revenue and EBITDA in its latest trading update. Both projections have been reduced by $7.9 million and $5 million respectively.