Shares of Mondelēz International—the owner of Cadbury, Dairy Milk, Oreo and other snack brands—fell by as much as six per cent in intraday trading Friday, making it one of the worst performers on the S&P 500 Consumer Staples Index. Consumer staple stocks were on track for their worst week since September 2022 amid worries that the weight-loss drug would curb consumer appetite for snacks. (Bloomberg)

Talking point: The sell-off comes after Walmart’s CEO said earlier this week that the retailer has seen “a slight change” in consumer shopping habits as more people turn to Ozempic, Wegovy and other medications that aim to suppress appetites. Analysts at Morgan Stanley penned a note this summer saying they expect seven per cent of the U.S. population, or 24 million people, could be taking these drugs over the next decade and consuming one-fifth fewer calories. Still, one expert told Axios it’s unclear how long people will use these medications, which can have severe side effects.