美國股市

Investors pile into Coca-Cola and Colgate as recession fears grow

Consumer staples sector outperforms broader market in recent weeks as investors hunt for defensive stocks

Investors are snapping up shares in US consumer staples stocks such as Coca-Cola and Colgate-Palmolive as they hunt for more defensive areas of the market amid concerns over a potential slowdown in the US economy.

The sector — which also includes other household names such as Kraft Heinz, Procter & Gamble and Walmart — has outperformed the blue-chip S&P 500 index in six of the past eight weeks, according to Bloomberg data.

Last week the S&P 500 consumer staples index notched up its best performance relative to the blue-chip index since March 2020, taking it to its highest ever level, although it has given back some ground in recent days.

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