Why is the Rio Tinto share price plunging today?
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The Rio Tinto Ltd (ASX: RIO) share price is tumbling today.
Shares in the S&P/ASX 200 Index (ASX: XJO) iron ore miner closed yesterday trading for $108.12. In morning trade on Wednesday, shares are changing hands for $105.85 apiece, down 2.1%.
For some context, the ASX 200 is down 1.7% at this same time.
As for Rio Tinto’s chief rivals, BHP Group Ltd (ASX: BHP) shares are down 1.6%. And Fortescue Ltd (ASX: FMG) shares are down a precipitous 8.1%, with the stock under additional pressure as Fortescue shares trade ex-dividend today.
Here’s what’s going on.
What’s pressuring the Rio Tinto share price?
The Rio Tinto share price, along with Fortescue and BHP shares, is feeling the heat from another sizeable…
