Why Abbott Labs Shares Fell 11.6% in February
Shares of Abbott Laboratories (NYSE: ABT) slipped 11.6% in February, according to data provided by S&P Global Market Intelligence, amid concern that a deepening of the coronavirus outbreak may hurt sales of companies with business in the country.
China is Abbott's second-biggest single market after the U.S. The country accounts for 7.6% of Abbott's $31 billion in net sales to external customers, according to the company's 2018 annual report. Abbott's pediatric-nutrition business is a good example of the company's exposure to China, as its Eleva is the country's leading organic infant formula.
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Source Fool.com
