Corona Manufacturer’s Stock Drops 5% on Mexican Tariff Talk
Adviser Investments Vice President Charlie Toole has the market analysis for Friday, May 31. President Trump’s threat to impose tariffs on Mexican imports dominated headlines and pushed major U.S. indexes down: The Dow Jones Industrial Average, S&P 500 and NASDAQ fell 1.4%, 1.3% and 1.5%, respectively. In particular, Constellation Brands saw its stock fall more than 5%—its largest single-day loss since early January. The company imports all of its U.S.-distributed Corona and Modelo beer products from Mexico.