Tyson share price tumbles after JPMorgan rating cut, WHO cancer judgement

Chicago

TYSON Foods Inc, the largest US meat producer, dropped the most in more than two months after JPMorgan Chase & Co downgraded its rating on the stock and the World Health Organization (WHO) said eating processed meat is a cancer hazard.

Springdale, Arkansas-based Tyson fell 4.9 per cent to US$45.10 in New York, the biggest decline since Aug 3.

The shares had gained 18 per cent this year through Friday amid record beef prices. With more "negative data" emerging for US protein exports, the "near-term upside may be more limited given how strong the st…