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J&J shares plunge on report it knew about asbestos in child powder

J&J shares plunge on report it knew about asbestos in child powder 
Offers of Johnson and Johnson fell 10 percent on Friday and were on track to post their greatest per centage drop in over 16 years, after Reuters detailed that the pharma major knew for a considerable length of time that malignant growth causing asbestos snuck in its Baby Powder. 
The decrease in offers eradicated about $40 billion from the organization's market capitalisation, with financial specialists stressing over the effect of the report as it faces a huge number of powder related claims. 
The stock was the greatest delay the more extensive Dow Jones Industrial Average and S&P 500 files and was among the most exchanged on US trades. Around 28 million offers traded hands by 1830 GMT, multiple occasions its 25-day moving normal. 
J&J was found to have thought about the nearness of little measures of asbestos in its items from as ahead of schedule as 1971, a Reuters examination of organization noti…

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