Why Is Chipotle Stock Down Today?
Chipotle shares fell 6.4% Tuesday as Brent crude pushed past $109 and the 10-year Treasury yield hit its highest level in nearly 20 years.
Overview
Chipotle Mexican Grill (NYSE: CMG) shares fell roughly 6.4% as of 2:24 p.m. ET on Tuesday, Sept. 15, in a sell-off tied to oil, inflation, and interest rates.
The S&P 500 and the Nasdaq Composite were down 0.4% and 0.7%, respectively.
Details
Chipotle, the popular fast-casual restaurant chain, fell as oil prices continued to surge. Brent crude, an international benchmark, topped $109 on Sept. 15, its highest level in months. At the same time, the 10-year Treasury yield hit its highest level in nearly 20 years.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.