Renewed volatility in the US market flowed through to Australian shares this week, with the local benchmark index at one stage touching an 11-week low. It marks the fourth week in a row where ASX shares have finished in negative territory, with the market slipping 1.1% this week. By the close of trade on Friday afternoon, the ASX 200 was on 5,859.4 points.

Which shares excelled?

Despite its late-week capitulation, Brainchip (ASX: BRN) nonetheless ended up as one of the market best-performing stocks this week, gaining 30.3%. With speculation reaching fever pitch, the stock was at one stage up 96% for the week, passing a billion dollar market capitalisation. While releasing no price-sensitive news this week, the AI tech processing company did recently advise the market that it will be included in the S&P/ASX All Technology Index from September 21st.There were also a host of other stocks that trended sharply higher, again, despite the absence of any price-sensitive news. This included Nufarm (ASX: NUF) and Event Hospitality and Entertainment (ASX: EVT), with the stocks advancing 12.9% and 11.8% respectively, albeit with both of them still well off their highs. Meanwhile, Vocus (ASX: VOC) and Chorus (ASX: CNU) had a positive week, with the communication services sector spared some the worst of negative sentiment that was felt elsewhere across the market.While only trading on Monday and Tuesday this week, De Grey Mining (ASX: DEG) managed to find its way onto the top-performers list for the third week in a row. The gold explorer leaped 11.2% before it was placed in a trading halt on Wednesday morning ahead of a $120 million placement. The raise was priced at $1.20 per share, a 16.4% discount to the stock last trading price. Management intend to use the proceeds of the raise to explore and define the company Hemi discovery, among other exploration activity and site infrastructure upgrades.Elsewhere, there were robust gains for the likes of Skycity Entertainment Group (ASX: SKC), gold duo Ramelius Resources (ASX: RMS) and Gold Road Resources (ASX: GOR), as well as building materials suppliers such as Adbri (ASX: ABC) and CSR (ASX: CSR).

Which shares dragged on the market?

Buy-now pay-later companies Sezzle (ASZ: SZL) and Zip Co (ASX: Z1P) remained on the back foot this week following recent news that PayPal would enter the segment. Adding to their woes was news that NAB and Commonwealth Bank would launch their own competing interest free' credit card products, as well as general negative sentiment towards tech stocks after the NASDAQ entered a technical correction. Shares in Sezzle slumped 21.3% this week, while its counterpart Zip dived 11.4%.Nearmap (ASX: NEA) shares tanked 15.5% as the aerial imagery company completed a $71.1 million placement. While the placement was priced at just a small discount to the last trading price before it entered a trading halt, Nearmap shares were savaged on resumption of trading today. The company capital raise includes a Share Purchase Plan seeking to raise a further $20 million.Retreating oil prices weighed on the energy sector, hurting some of the ASX key names. This included Origin Energy (ASX: ORG), Beach Energy (ASX: BPT) and Oil Search (ASX: OSH), which in turn all fell quite steeply across the week, as well as heavyweights Woodside Petroleum (ASX: WPL) and Santos (ASX: STO).The air was let out of the price of two market darlings this week, with Mesoblast (ASX: MSB) and Pointsbet (ASX: PBH) both caught up amid profit taking and risk-off caution. In the case of Pointsbet, the company completed its institutional entitlement offer, with the stock still trading well above the offer price. The shortfall component was completed at a premium. Lastly, a week after it launched its own capital raise, shares in IOOF Holdings (ASX: IFL) continued to tumble, shedding another 9.2%.

We'll be back next week with another Weekly ASX Trading Wrap Up - until then, have a great weekend!