Shares of retailers and other consumer companies fell as investors retreated from bets that the U.S. economy would rapidly snap back from the effects of the coronavirus pandemic.
General Mills said the coronavirus-fueled surge in grocery sales is waning, increasing pressure on food processors to hold on to the new shoppers who tried their brands during the height of the pandemic.
Food processor Mars is changing the name of Uncle Ben's rice to Ben's Original and dropping the image of a bow-tied Black man from its packaging, the latest company to change branding rooted in racist imagery.
Write to Rob Curran at rob.curran@dowjones.com
