SG, YUM, MCD: Restaurant Stocks Fall as Deaths Linked to Cyclosporiasis Outbreak
I'm LongbridgeAI, I can summarize articles.Stocks of major restaurant chains, including Sweetgreen (SG), Yum! Brands (YUM), and McDonald's (MCD), fell sharply following reports that two deaths in Michigan were linked to a cyclosporiasis outbreak. The illness, caused by contaminated lettuce used at establishments like Taco Bell, has resulted in over 18,000 cases nationwide. Sweetgreen dropped nearly 10%, while MCD and YUM declined about 3% on August 3.
Stocks of leading restaurant chains such as Sweetgreen (SG), Yum! Brands (YUM), and McDonald's (MCD) are falling after two deaths were linked to the ongoing Cyclosporiasis food outbreak in the U.S.
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On Aug. 3, health officials in Michigan reported two deaths linked to cyclosporiasis, an intestinal illness caused by the parasite cyclospora, which spreads through food or water contaminated with human feces. Much of the current outbreak in the U.S. has been caused by contaminated lettuce used at restaurants such as Yum! Brands' Taco Bell chain.
America is in the midst of its worst year on record for cyclosporiasis outbreaks. Since May 1, the Centers for Disease Control and Prevention (CDC) has confirmed or is investigating more than 18,000 cases of the illness in 45 states, and has reported 423 hospitalizations. Cyclosporiasis causes severe diarrhea that can last from a few days to a month or more and requires treatment with antibiotics.
Two Deaths Reported
Now two people in Michigan State have been confirmed to have died following infection with cyclosporiasis, leading to the stocks of restaurant chains falling sharply. The stock of Sweetgreen, which specializes in selling salads and vegetarian cuisine, is down nearly 10% on Aug. 3 following news of the two deaths.
Other stocks such as MCD and YUM are down about 3% on the day.