Johnson & Johnson loses $39.8 billion in market value in one day after report claims it knew about asbestos in its baby powder

From cnbc.com

Johnson & Johnson lost $39.8 billion in market value Friday, suffering its worst trading day in more than 15 years, after Reuters said the company knew for decades that its baby powder contained asbestos — an allegation the company denied. J&J said the story was "one-sided, false and inflammatory" and an "absurd conspiracy theory," according to a statement. Thousands of lawsuits have accused J&J's talc-based baby powder for containing asbestos and causing ovarian and other types of cancers. Investors have expressed some concern over the lawsuits, though J&J has successfully won a number of cases. Friday's report ... (full story)