Reuters Exposé: Johnson and Johnson (JNJ) has Known for Decades that it’s Baby Powder has Asbestos in it. Stock Down 10%

JNJ is generally considered one of the safest stocks in the market. It’s an old school blue chip that had shot up 23% since May. On top of that, it’s one of, if not THE highest market-capped stock in the healthcare sector. So when something like this happens, it can cause the entire sector to shake. Healthcare is down nearly 2x the broad market today, and it’s almost certainly because of JNJ. Lesson: unless you’re holding JNJ, none of this really matters in the long run…but market news can make everybody’s stocks look like they’re turning to shit.