Supermarket stocks fell yesterday along with the broader market, which absorbed news of financial turmoil for investment banks Lehman Bros. and Merrill Lynch and troubles at insurance giant AIG.
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NEW YORK — Supermarket stocks fell yesterday along with the broader market, which absorbed news of financial turmoil for investment banks Lehman Bros. and Merrill Lynch and troubles at insurance giant AIG. Especially hard hit was A&P, which in another massive sell-off saw its stock fall by more than 20% to close at $8.82, a new 52-week low. Other food retail stocks falling Monday included Arden Group (down 9.2%); Winn-Dixie (down 4.61%); Kroger (down 4.12%); and Supervalu (down 3.96%). The Dow Jones Industrials were down by more than 500 points Monday, the biggest one-day point decline since Sept. 17, 2001.
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