McDonald's (MCD, Financial) experienced a significant pre-market decline of over 6%, with shares priced at $295.42. This drop follows a food safety alert issued by the U.S. Centers for Disease Control and Prevention (CDC), linking an E. coli outbreak in the Mountain West states to McDonald's Quarter Pounder burgers.
The CDC reported that 49 people across 10 states have been infected, with Colorado being the hardest hit, recording 27 cases and one elderly fatality. As a result of these developments, investment bank Baird downgraded McDonald's rating to neutral and set a target price of $290 for its stock.
