Constellation, Maker of Corona Beer, Slips on Report of Possible Trump Border Tariff

Constellation Brands shares fell about 2.7% to $149.97 after White House Press Secretary Sean Spicer said Thursday that President Trump’s proposed wall on the border with Mexico will be financed with a 20% tax on imported goods from Mexico. Constellation, maker of Corona and Modelo beers, both brewed in Mexico, sold $3.44 billion worth of beer in the U.S. in 2016, according to the company’s fiscal 2016 year-end report, which came out in February.

3 Things to Watch in the Stock Market This Week

Stocks fell by almost a full percentage point last week, but that wasn’t enough to derail an impressive 2016 for both the Dow Jones Industrial Average . After the worst start to a year on record, and having touched double-digit declines at one point, the Dow ended up with a 13.5% annual gain as the S&P added 9.6%.