While Wall Street's broader indexes fell sharply on Monday on concerns abou...
- While Wall Street’s broader indexes fell sharply on Monday on concerns about coronavirus, investors turned to some consumer companies as they bet on stock-piling of products such as disinfectants and shelf-stable foods.
With virus cases rising in Italy and several Middle Eastern countries dealing with their first infections, fears of a global pandemic sent markets into a tailspin, even as China eased curbs with no new cases reported in Beijing and other cities. Other outperformers in the staples sector included tissue maker Kimberly-Clark and food suppliers such as Hormel Foods, and Campbell Soup Co as investors bet on rising demand in the event consumers have to prepare to stay at home if the virus keeps spreading.
After rising as much as 2.2% early in the session, Clorox shares were last up 1.7% and trading volume was 1.6 times their 10-day moving average. Given the global nature of investor concerns, it was also being rewarded for depending mostly on domestic revenue, said Nancy Tengler, chief investment officer of Laffer Tengler Investments.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Virus fears rise: Investors worry about supply chain and pandemic-type spreadAs fears about the coronavirus catch up to U.S. markets, investors are watching ...
Read more »
Investors seek dollars as global virus spread widensAsian currencies slid on Monday as the rapid spread of the coronavirus outside C...
Read more »
Mabel cancels show over coronavirus fears as Italy struggles to contain virusBRIT winner had been due to play the Magazine Generali in Milan tomorrow night, but called the gig off as the coronavirus rapidly spreads
Read more »
Coronavirus live updates: Asia markets brace for losses as virus fears spill over
Read more »
Global Stocks Slump As Coronavirus Cases Surge In Italy And South KoreaStocks markets around the world fell over fears that the coronavirus could go global with a surge in reported cases of the pneumonia-like virus in South Korea and Italy.
Read more »
Global Stocks Slump As Coronavirus Cases Surge In Italy And South KoreaStocks markets around the world fell over fears that the coronavirus could go global with a surge in reported cases of the pneumonia-like virus in South Korea and Italy.
Read more »