- A large number of consumer goods stocks are trading lower after a sweeping downgrade from Goldman Sachs on the Americas food and household personal care sectors to Cautious from Neutral.
- GS warns on margin pressures as higher input costs factor in and sees investors chipping away at valuation levels.
- Notable decliners include Clorox (CLX -4.2%), Campbell Soup (CPB -2.6%), Kellogg (K -2.6%). J.M. Smucker (SJM -2.2%), Colgate-Palmolive (CL -1.3%), Edgewell Personal Care (EPC -1.4%), Church & Dwight (CHD -1.9%), Kraft-Heinz (KHC -2.3%), Spectrum Brands (SPB -1.9%), Kimberly-Clark (KMB -2.4%), Lifeway Foods (LWAY -6.7%), Farmer Bros. (FARM -3.3%) and General Mills (GIS -2.6%).