Ozempic Threat Is Spurring a Slump in Snack and Beer Stocks
- Consumer staples gauge drops 3.1% in worst week since May
- Walmart this week said it’s seeing impact on shopping demand
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The bad news keeps piling up for the makers of everything from snacks to chocolate and booze.
The latest blow took the form of comments from Walmart Inc., which said this week it’s already seeing an impact on shopping demand from people taking Ozempic, Wegovy and other appetite-suppressing medications. That sent shares of food and beverage companies sliding.