In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another disappointing decline. At the time of writing, the benchmark index is down 0.4% to 8,358 points.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Domino's Pizza Enterprises Ltd (ASX: DMP)

The Domino's share price is down 2.5% to $30.51. This appears to have been driven by a broker note out of Citi this morning. According to the note, the broker has downgraded the pizza chain operator's shares to a neutral rating with a reduced price target of $33.25. Citi made the move after lowering its estimated value of the company's European operations. It notes that trading conditions are difficult in France and that recent initiatives that are aiming to improve sales trends are yet to deliver the goods. It is also waiting cautiously to see how the Japan business performs in the key Christmas period.

Life360 Inc (ASX: 360)

The Life360 share price is down almost 2% to $22.36. This is despite there being no news out of the location technology company this week. However, it seems that profit taking is weighing heavily on its shares this month. So much so, its shares are down over 15% since this time last week. Though, shareholders won't be too disheartened given that its shares remains up approximately 200% in 2024 despite this recent weakness.

Smart Parking Ltd (ASX: SPZ)

The Smart Parking share price is down 5.5% to 87.5 cents. This is despite industry data showing that the company has been growing its market share in the United Kingdom. It seems that some investors may have been expecting stronger growth in the key market. Nevertheless, Shaw and Partners was pleased with the data. As a result, it has retained its high risk buy rating and $1.10 price target on the parking technology company's shares.

South32 Ltd (ASX: S32)

The South32 share price is down 4.5% to $3.52. Investors have been selling the miner's shares today after it released an update on its Mozal Aluminium operation in Mozambique. South32 advised that due to escalating civil unrest in west African country, the transport of raw materials to Mozal Aluminium is being impacted by road blockages. And while management has implemented contingency plans to mitigate operational impacts, it is withdrawing its production guidance for Mozal Aluminium as it responds to the evolving situation.