Starbucks Corporation (NASDAQ:SBUX) shares are experiencing selling pressure Monday afternoon, trading lower by 3.69% to $72.88. Shares of several hotel, restaurant & leisure companies are trading lower amid overall market weakness following worse-than-expected May CPI data.
Rising inflation and an increase in U.S. Treasury yields have also weighed on the market. According to the Bureau of Labor Statistics, the all-items CPI figure increased 8.6 percent for the 12 months ending May, the largest 12-month increase since the period ending December 1981.
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According to data from Benzinga Pro, Starbucks has a 52-week high of $126.32 and a 52-week low of $68.39.
