A new class of weight-loss drugs has rattled global equity markets, sending shares of everything from food and beverage companies to medical-device makers tumbling. As earnings season kicks into high gear, firms are expected to reveal if consumer behaviors are being altered by the likes of Ozempic.

So far, fear has driven investors to sell consumer-exposed stocks. A basket of such companies — including Oreo cookies maker Mondelez International Inc. and Modelo beer producer Constellation Brand Inc. — is down nearly 9% since early August with losses roughly double those of the S&P 500 Index, while makers of things like insulin pumps have wiped out close to a third of their value over the same stretch amid concerns that fewer people will need their products.

  • @[email protected]English
    8•1 year ago

    Jesus do the masters of the universe really want a recession bad. Just constantly telling their media companies to report in a definite economic downturn coming any day now.

    I guess the COVID recession just wasn’t on the right timetable for them? Or they were too busy trying not to die that they couldn’t maximize their recession profiteering?