ASX shares fall 56% after downgrade

ASX Ltd (ASX:ASX) shares fell 56% to $56.92 as brokers downgraded the stock following a 9% post-results surge. UBS, JPMorgan and Jarden cut their ratings to Neutral, setting price targets ranging from $52 to $62. Macquarie was more bearish, downgrading ASX to Underperform with a $52 target.