Posted 10/5/2023, 5:55:00 PM
Coca-Cola Stock Plunges Over 4% Amid Broad Selloff in Consumer Staples
- Coca-Cola's stock suffered its worst day in 17 months amid broad selloff in consumer staples stocks
- Shares dropped 4.1%, leading the Dow's decliners, on concerns over slowing consumer spending
- The selloff comes as rising rates and slowing job market stoke recession fears
- Coca-Cola headed for lowest close since December 2021; consumer staples ETF hit 1-year low
- Conagra reported sales miss amid "industry-wide slowdown in consumption"
