Consumer companies fell amid concerns about President-elect Donald Trump's planned appointments.

Food processor shares fell after Robert F. Kennedy Jr. was named as Trump's pick to head the Department of Health and Human Services, which oversees the Food and Drug Administration. Kennedy has proposed bans on pesticides and genetically modified organisms, restricting additives and chemicals in food products, and reducing unhealthy and processed foods in federal programs such as school lunches. Snack maker PepsiCo fell by more than 4%.

Shares of chocolatier Hershey fell to four-year lows, as a British reforestation initiative drove up cocoa prices.

Despite the precedent of Trump's first term, it's unclear how tariffs could affect apparel prices because the last round of levies were not passed through until the Covid-19 pandemic upended the industry, said analysts at brokerage William Blair.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

11-15-24 1742ET