Johnson & Johnson knew for decades that asbestos lurked in its Baby Powder

According to Reuters, Wall Street is having another volatile day of trading. But instead of trade tensions, part of the day's financial fallout is due to asbestos. A report from Reuters indicated that Johnson & Johnson knew that small traces of asbestos have been found in their baby powder products for decades. That report led to a selloff of Johnson & Johnson shares, which fell by 11-percent, before stabilizing at 8-percent down. The selloff erased an estimated $38 billion in market capitalization for Johnson & Johnson. Those losses reverberated throughout the markets on Wall Street, especially the S&P 500. On the day, the S&P's healthcare index dropped about 2.8-percent.
https://www.reuters.com/investigates/special-report/johnsonandjohnson-cancer/
 https://markets.businessinsider.com/news/stocks/johnson-and-johnson-baby-powder-asbesto
 https://www.nbcnews.com/health/health-news/johnson-johnson-knew-decades-asbestos-
 https://business.financialpost.com/news/retail-marketing/jj-shares-drop-on-report
 https://www.bloomberg.com/news/articles/2018-12-1