The BHP share price is tumbling 3% on Friday. What’s going on?

The BHP Group Ltd (ASX: BHP) share price is falling on Friday despite no word having been released by the company.

But at least it’s not alone. It’s joined in the red by most of its S&P/ASX 200 Index (ASX: XJO) peers.

At the time of writing, the BHP share price is $46.16, 2.51% lower than its previous close.

That’s despite the price of iron ore rising 1.4% to US$144.90 per tonne.

However, the ASX 200 is plunging 2.36%. Meanwhile, BHP’s home sector – the S&P/ASX 200 Materials Index (ASX: XMJ) ­– is underperforming.

Let’s take a look at what’s going on with the iron ore giant and its peers on Friday.