Stock prices for alcohol makers and distributors fell sharply early Friday morning after Surgeon General Vivek Murthy issued a new advisory report calling for Congress to enact legislation to add a cancer risk warning label on all alcohol products.
According to the new report, alcohol is the third leading preventable cause of cancer in the United States, behind tobacco use and obesity, but nearly three-quarters of Americans are unaware that increased alcohol consumption raises cancer risk.
The report generated concern among investors, indicated by the drop in stock prices at the market opening just two hours after the report was published.
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As of 10:30 a.m. EST, one hour after the market opening, stock prices for Brown-Forman, makers of Jack Daniel’s whiskey, fell by more than
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