Food Companies, Typically a Haven, Not Spared in Market Tumult
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Shares of packaged food giant Kraft Heinz fell 3.9% in trading Monday, while spice maker McCormick dropped 2.7% and Campbell’s, which sells soups and snacks, declined 1.8%. Investors have long flocked to food as a safe haven during market convulsions, but sweeping tariffs unveiled last week could exacerbate pressure tied to commodities like cocoa and coffee, Wall Street analysts said.
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