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Stocks Open Lower on Falling Oil Prices

June 17, 2023
in Trade Tube
Reading Time: 1 min read
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U.S. markets opened lower Tuesday as oil prices drop again. Boston College said on Monday that more than two dozen students, including members of the men’s basketball team, got sick after eating at a Chipotle Mexican Grill (CMG) restaurant. The Massachusetts Department of Health has been notified and is working to determine the cause of the apparent gastrointestinal illness. The news comes amid an E. coli outbreak linked to other Chipotle Mexican restaurants that has made people sick in at least nine states since October. Sales have plummeted. So has its stock price. The fallout from the E. coli outbreak has been swift. Sales tumbled 16 percent in November, prompting Chipotle to rescind its 2016 forecast and announce a $300 million stock buyback to shore up the company’s sliding share price.

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