Quote from Ndubuisi Ekekwe on February 27, 2020, 6:08 PM

Nothing is spared - beer under attack by coronavirus: Brewing behemoth AB InBev has warned of a 10% decline in Q1 profits, thanks to the coronavirus outbreak—in particular its effect on beer sales during Chinese New Year. The company's share price dove by 8.4% as a result (Fortune).

The maker of Budweiser, Corona and Stella Artois said the virus had led to a significant decline in demand in China - both at bars and drinking at home, notably during the Chinese New Year.

The outbreak, along with an expected weaker Brazilian market, could lead to a 10% drop in first-quarter core profit (EBITDA) on-year, AB InBev said, adding that it expected 2020 core profit growth of between 2% and 5%, with most expansion occurring in the second half.