Crown Holdings Inc (CCK)

Shares of Crown Holdings, Inc. (CCK) dropped by 4.02% from $85.57 to $82.13 in the trading on Friday October 6, 2023. The reasons why CCK stock down include:

• Fear of interest rate hike: The release of the September jobs report heightened concerns about the possibility of a higher interest rate environment, which often has a negative impact on stock prices.
• Sector weakness: CCK belongs to the materials sector, which performed poorly on October 6, 2023. This sector's decline was driven by concerns about a potential slowdown in global economic growth, which could negatively affect demand for materials, including those produced by companies like CCK.