Stocks Plunge as Treasury Yields Surge After December Jobs Report; Major Indexes Lose Ground for 2nd Straight Week
Biggest S&P 500 Movers on Friday
7 hr 29 min ago
Decliners
- Constellation Brands (STZ) shares dropped 17.1%, losing the most of any S&P 500 stock after the beer, wine, and spirits maker reported lower-than-expected quarterly sales and slashed its annual forecast. The owner of the Corona and Modelo beer brands noted that inflationary pressure was weighing down spending on alcoholic beverages while shifting preferences for lower-calorie products also affected demand.
- Shares of electric utility PG&E (PCG) fell 10.8% as devastating wildfires continue to rage in Southern California. While PG&E is headquartered in Oakland and primarily serves northern and central parts of the state, the power generator declared Chapter 11 bankruptcy in…
