Fortescue ( $FMG.AU$ ) was the major drag on the market afte...

Fortescue ( $FMG.AU$ ) was the major drag on the market after Capital Group sold $1.9bn worth of the stock at $18.55. JP Morgan handled the transaction, so would have dished out the stock to all their institutional clients….FMG closed down 10% to $18.28 and has now fallen about 38% from it’s all time high reached at the beginning of the year.